Question

calculate the amount and the compound interest on 17000 in 3 years when the rate of interest for successive years is 10% and 10% and 15% respectively please explain​

Answer 1

$\huge{\underline{\mathcal{\red{ANSWER:-}}}}$$Formula\ of\ compound\ interest=\\\\{\boxed{P(1+\frac{R}{100})^T}}\\\\Interest\ for\ first\ 2\ years=\\\\17000(1+\frac{10}{100})^2\\\\=20570\\So,\ for\ the\ final\ year,\ the\\ principal\ becomes\ 20570\\\\Therefore,\ 20570(1+\frac{15}{100})^1\\\\=23655.5\\\\So,\ the\ total\ amount\ is\ 23655.5\\\\And,\ compound\ interest\ is\ 6355.5$$\huge\underline\mathtt\green{HOPE\ IT\ HELPS}$