Question

c)
Mr. Tharu borrowed a sum of Rs 1,00,000 from an Agricultural Bank for 3 years to
upgrade his poultry farming. The bank charged 5% interest compounded annually
for the first year and the rate of interest was gradually increased by 1% every year.
How much interest did he pay at the end of third year?​

Answer 1

Answer:

100000*5*1/100=5000

105000*6*1/100=6300

111300*7*1/100=7791

19091