a sum of 1500 is invested for 3years compounded at 5%, 10% and 20% respectively find the compound interest at the end of 3 years
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Step-by-step explanation:
Let the original amount = Rs. 100.
In the first year, it increases by 5%.
∴ the amount after 1 yr. = Rs. (100+100×
5/100
)= Rs. 105.
In the second year, it increases by 10%.
∴ the amount after 2 yr. = Rs. (105+105×
10/100
)= Rs. 115.5.
In the third year, it increases by 20%.
∴ the amount after 3 yr. = Rs. (115.5+115.5×
20/100
)= Rs. 138.6. =138.6% of Rs. 100
∴ Rs. 138.6% of the original money = Rs. 16632.
⇒ The original money = Rs.
138.6
16632
×100= Rs. 12000
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