calculate the amount and the compound interest on Rs.25000 for 3 years, compounded annually, the rates of interest for the successive years being 8%, 9%, and 10% respectively.
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Answered by
15
Answer:
Rs.7373
Step-by-step explanation:
principal 1=Rs.25000
rate 1=8%
interest for 1st year=PRT/100
=25000*8/100=250*8=Rs.2000
amount for 1st year=25000+2000=Rs.27000
principal2= Rs.27000
rate2= 9%
interest for 2nd year=27000*9/100
=270*9=Rs.2430
amount for 2nd year=27000+2430=Rs.29430
principal3= Rs.2943
rate3=10%
interest3 = 29430*10/100
=Rs.2943
Amount for 3rd year= 29430+2943
=Rs. 32373
Compound interest=32373-25000
=Rs.7373
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3
Answer:
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