Question

. Find the amount and compound interest on 3,500 for 3 years if the rate of interest for the first, second and third years are 4%,5% and 6%, respectively.​

Answer 1

Answer:

total amount of CI = 551.44 rupees

Step-by-step explanation:

given  

Princilpal amount  P = 3500

rate of first year r =4%

so for first year CI  =  3500 ×4% = 3500 × 4/100 = 140 rupees

now for second year

rate  = 5%

P for this year will be =  3500 + 140  

CI for second year = 3500 ×5% + 140 ×5% = 175 + 7 = 182 rupees

now for third year

rate = 6%

fof third year P = 3500 + 140 + 182

CI ofr third year = 3500×6% + 140×6% + 182×6% = 210 +8.52 + 10.92 = 229.44 rupees

total amount of CI = 140 rupees + 182 rupees + 229.44 rupees = 551.44 rupees