Question

calculate amount and compound interest on RS 12000 in 3 years when rate of interest for succesive years are 8%,10%and 15%respectively​

Answer 1

Sum=Rs.12000

Time=3 years

Rate of interest=8%,10%,15%

Required amount, A = P(1+100r1)(1+100r2)(1+100r3)

⇒A=Rs.12000(1+1008)(1+10010)(1+10015)

⇒12000×100108×100110×100115

⇒Rs.16394.40

C.I.=Rs.16394.40−Rs.12000=Rs.4394.40