A sum of 20000 is lent at ci for 3 year if rate is5%6%8% find amount
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Given,
Principal= 20,000
Therefore Time=1 year
Since Rate = 5%
S.I.= 20,000x1x5/100= 1,000
Therefore Principal for the 2th year = (20000+1000)=21,000.
Time=1 year
Rate = 6%
S.I.= 21,000x1x6/100= 1,260
Therefore Principal for the 3rd year =(21,000+1,260)=22,260
Time=1 year
Rate=8%
S.I.= 22,260x1x8/100= 1780.80
Now, Amount for the last year = ( 22,260+1,780.80)= 24,040.80.
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