Question

C. Calculate the compound interest on Rs 20000 for 3 years if the rates of
interest for the first second and third year are respectively 8%, 9% and
10% per annum​

Answer 1

Answer:

Here, Principal amount (P)=20000 Rs

So, amount after first year =20000(1+10100)1

Amount after second year =20000(1+10100)(1+10100)1

Amount after third year =20000(1+10100)(1+10100)(1+12100)1

=20000∗1110∗1110∗112100=224∗121=27104 Rs

∴ Compound interest =27104−20000=7104 Rs