calculate the compound interest accrued on rupees 20000 in 3 years when the rates of interest for successive years are 8% 10% and 12%
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Answer:
change the value according to your questions
Step-by-step explanation:
Interest for the first year =
100
P×R×T
=
100
50,000×6×1
= Rs.3,000
Amount for the first year = Rs.50,000 + Rs. 3,000 = Rs. 53,000
Interest for the second year =
100
P×R×T
=
100
53,000×8×1
= Rs.4,240
Amount for the second year = Rs.53,000 + Rs. 4,240 = Rs. 57,240
Interest for the third year =
100
P×R×T
=
100
57,240×10×1
= Rs.5,724
Amount for the third year = Rs.57,240 + Rs. 5,724 = Rs. 62,964
Hence, the amount will be Rs.62,964.
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