Question

Find the amount and compound interest on 15,000 for 3 years, the rate of interest being 8% for the
first year, 9% for the second year and 10% for the third year.​

Answer 1

Answer:

$Simple \: Interest I= \: \: \frac{PNR}{100}$

Here for first year,

Here for first year, P=Rs.15,000

Here for first year, P=Rs.15,000N=1 year

Here for first year, P=Rs.15,000N=1 yearR=6 %

Here for first year, P=Rs.15,000N=1 yearR=6 % So, Interest at the end of 1st year I=

$\frac{15,000 \times 1 \times 6}{100} = \: Rs.900</strong></p><p></p><p><strong>[tex] \frac{15,000 \times 1 \times 6}{100} = \: Rs.900$

And for second year,

And for second year, P=Rs.15,000+Rs.900=Rs.15,900

And for second year, P=Rs.15,000+Rs.900=Rs.15,900N=1 year

And for second year, P=Rs.15,000+Rs.900=Rs.15,900N=1 yearR=8%

$I= \: \frac{15,900×1×8}{100} = Rs.1272</strong></p><p></p><p><strong>[tex]I= \: \frac{15,900×1×8}{100} = Rs.1272$

And, for third year,

And, for third year, P=Rs.15,900+Rs.1,272=Rs.17,172

And, for third year, P=Rs.15,900+Rs.1,272=Rs.17,172N=1 year

And, for third year, P=Rs.15,900+Rs.1,272=Rs.17,172N=1 year R=10%

$I= \: \frac{17,172×1×10}{100} = Rs.1,717.2</strong></p><p></p><p><strong>[tex]I= \: \frac{17,172×1×10}{100} = Rs.1,717.2$

So, total interest =Rs.900+Rs.1,272+Rs.1,717.2=Rs.3,889.20.

Hope it helps you

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Answer 2

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