Question

find the amount and compound interest on a sum of rupees 15000 invested for 3 years at the rate of 8% for 1 year 10% for the second year and 12% for the third year​

Answer 1

Answer:

Total ammount is = 15000

Invest for 3 years

1st year rate % is = 8%

Then

8 % of 15000 is

15000 × 8 ÷ 100 = 1200

It means that 1st year intrest is 1200 rupees

Now we calculate 2nd year intrest

Total ammount is

15000 + 1200 = 16200

Rate % is = 10%

Then

10 % of 16200 is

16200 × 10 ÷ 100 = 1620

It means that 2nd year compound interest is 16200

Total amount is

16200 + 1620 = 17820

Now we calculate 3rd year compound interest

Amount is = 17820

Rate % is = 12 %

12 % of 17820 is

17820 × 12 ÷ 100 = 2073.6

3rd year Interest is 2073.6

Total ammount of interest is

1st year + 2nd year + 3rd year

1200 + 1620 + 2073.6 = 4893.6

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Principal = Rs 15000

First year:

Principal = Rs 15000

Interest = 8%

Amount = 15000 + (0.08 x 15000) = Rs 16200

Second year:

Principal = Rs 16200

Interest = 10%

Amount = 16200 + (0.1 x 16200) = Rs 17820

Third year:

Principal = Rs 15000

Interest = 12%

Amount = 17820 + (0.12 x 17820) = Rs 19958.40

Interest = 19958.4 - 15000 = Rs 4958.40

Answer: Amount = Rs 19958.40 and Interest = 4958.40

Step-by-step explanation:

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