Calculate the compound interest $15000 in 3 year if the rate of interest from sucsessive years be 6%,8% and 10% respectively
Answers
Answer:
=Rs. 3889.20
Step-by-step explanation:
For 1st year
Principal (P) = Rs. 15,000
Rate (R) = 6%
Time (T) = 1 year
∴ Interest = (15000 × 6 ×1)/100 = 150 × 6 = Rs. 900
∴ Amount at the end of first year
= Rs. 15,000 + Rs. 900 = Rs. 15900
For 2nd year
P = Rs. 15900
R = 8%
T = 1 year
∴ Interest = (15900 × 8 ×1)/100 = 159 × 8 = Rs. 1272
∴ Amount at the end of 2nd year
= Rs. (15900 + 1272) = Rs. 17171
For 3rd year
P = Rs. 17172
R = 10%
T = 1 year
∴ Interest = (17172 × 10 × 1)/100 = Rs. 1717.20
∴ Amount at the end of 3rd year
= Rs. (17172 + 1717.20)
= Rs. 18889.20
∴ Compound interest = 18889.20 – 15,000
= Rs. 3889.20
intrest - 3889.2
Step-by-step explanation:
15000×106/100 = 15900 ( interest = 900 )
15900×108/100 = 17172 (intereat = 1272 )
17172×110/100 = 18889.2 (int. = 1772.2 )
compound intrest is (900+1272+1772.2 = 3889.2 )