Question

find the compound interest if Rupees 6000 are invested for 3 years at the rate of 12 pcpa​

Answer 1

Answer

Given, P= Rs. 6000, n=3 years, r

1

=5%, r

2

=8% and r

3

=10%.

Amount (A) after three years is given by

A=P(1+

100

r

1

)(1+

100

r

2

) (1+

100

r

3

)

=P(1+

100

5

)(1+

100

8

) (1+

100

10

)

=6000(

20

21

)(

25

27

) (

10

11

)

= Rs. 7484.40

∴ Compound interest (C.I.) =A−P

= Rs. (7484.40−6000)

= Rs. 1484.40