find the compound interest on 3125 for 3 years if the rates of interest for the first, second and third year are respectively 4 % , 5 % ,6 %.
Answers
Answered by
4
P = 3125
T = 3 years
R1 % = 4% , R2% = 5%, R3% = 6%
A = P (1 + R/100)^T
A = 3125 ( 1 + 4 / 100) ( 1+ 5/100) (1+6/100)
= 3125 × 104/100 × 105/100 × 106/100
=3,617.25
CI = A - P
=3,617.25 - 3125
=492.25
T = 3 years
R1 % = 4% , R2% = 5%, R3% = 6%
A = P (1 + R/100)^T
A = 3125 ( 1 + 4 / 100) ( 1+ 5/100) (1+6/100)
= 3125 × 104/100 × 105/100 × 106/100
=3,617.25
CI = A - P
=3,617.25 - 3125
=492.25
Similar questions