Question

calculate thecalculate amount due in three years on rupees 5000 if the rate of compound interest for successive years are 7%,8% and 10% respectively​

Answer 1

Answer:

Interest for 1st year= 5000×7×1/100 = 350 rupees

Amount at the end of 1st year= 5000+350 = 5350(principal for 2nd yr)

Interest for 2nd year = 5350×8×1/100= 42800/100= 428 rupees

Amount at the end of 2nd yr= 5350+428= 5778 rupees ( principal for 3rd year)

Interest for 3rd year= 5778×10×1/100= 57780/100 = 577.80 rupees

Now, amount due at the end of 3rd year= 5778+577.80= 6,355.80 rupees.

So, your answer is 6,355.80 rupees.