Question

Find the amount and the compound interest on rupees 18,750 after 3 years compounded annually the rates of interest being 8% per annum 10% per annum and 12% per annum during the first year second year and third year respectively

Answer 1

Answer:

Step-by-step explanation:

A=P(1+I)N

=18750(1+0.08)

=20250 for first year

20250(1+0.10)

=22275 for second year

22275(1+0.12)

=24948 for third year.

So, after 3 years he will received 24,948.

Answer 2

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