Question

find the amount and compound interest on rupees 15000 for three years the rate of interest being 8% for the first year, 5% for the second year and 10% for the third year

Answer 1

Answer:

Step-by-step explanation:

simple interest =Pnr/100

here for first year,

P=15,000 rs

N=1year

R=6%

so, interest at the end of first year=15000*1*6/100=900

and for second year

P=15,000+900=15900

N=1yr

R=8%

I=15,900*1*8/100=1272

and for third year

P=15,900+1272=17172

N=1yr

R=10%

I=17172*1*10/100=1712.2

so total interest=900+1272+1717.2=3,889.20