Question

find the amount and compound interst on Rs8000 for 3years if rate is 8% per anum first year,10% for second year and 12% for third year​

Answer 1

Answer:

• Amount = ₹11404
• Compound interest = ₹3404

Explanation:

Given,

• Principal = ₹8,000
• Rate at three years = 8%, 10%, and 12% respectively.

We know that,

Compound interest = Amount - Principal

Amount is given by :-

${ \blue{{\longrightarrow \rm p\bigg(1 + \dfrac{r_1}{100} \bigg)\bigg(1 + \dfrac{r_2}{100} \bigg)\bigg(1 + \dfrac{r_3}{100} \bigg)} }}$

Where,

• p(principal) = ₹8,000
• $\rm r_1 = 8\% \: r_2 = 10\% \: \& \: r_3 = 12\%$

Substituting the given values,

$\rm \longrightarrow \: 8000\bigg(1 + \dfrac{8}{100} \bigg)\bigg(1 + \dfrac{10}{100} \bigg)\bigg(1 + \dfrac{12}{100} \bigg)$

$\rm \longrightarrow 8000 \rm \bigg(\dfrac{108}{100} \bigg)\bigg(\dfrac{110}{100} \bigg)\bigg( \dfrac{120}{100} \bigg)$

$\rm \longrightarrow 8000(10.8)(1.1)(1.2)$

$\rm \longrightarrow 11404.8$

${ \underline{ \therefore{ \sf{The \: amount \: is \approx 11404(approx.)}}}}$

Hence, the compound interest is,

= Amount - Principal

= 11404 - 8000

= 3404

_______________________