Question

find the amount and compound interest on 150000 for 3 years at the rate of interest being 8% for the first year 9% for the second year and 10% for the third year​

Answer 1

P = 150000

R = 8%

Interest for 1st year = 150000×8/100

= 12000

Amount = 150000+12000

= 162000

P. for second year = 162000

R. for 2nd year = 9%

Interest for second year = 162000×9/100

= 14580

Amount = 162000+14580

= 176580

P. for 3rd year = 176580

R. for 3rd year = 10%

Interest for 3rd year = 176580×10/100

= 17658

Amount = 176580+17658

= 194238

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