Question

find the compound interest on ₹50000 for 3 years if the rate for 3 years are 2% ,4%, and 6% respectively
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Answer 1

• Given

• Principal (P) = Rs. 50,000
• Time (n) = 3 years
• Rate% for 3 years = 2%, 4%, 6%

• To find

• Compound Interest

• Solution

Amount = $\sf{P\bigg(1 + \dfrac{r}{100}\bigg)^n}$

Substitute the given values,

⇒ $\sf{50000\bigg(1 + \dfrac{2}{100}\bigg)}\bigg(1 + \dfrac{4}{100}\bigg)\bigg(1 + \dfrac{6}{100}\bigg)$

⇒ $\sf{50000\bigg(1 + \dfrac{1}{50}\bigg)}\bigg(1 + \dfrac{2}{50}\bigg)\bigg(1 + \dfrac{3}{50}\bigg)$

⇒ $\sf{50000\bigg(\dfrac{51}{50}\bigg)}\bigg( \dfrac{52}{50}\bigg)\bigg(\dfrac{53}{50}\bigg)$

⇒ Rs. 56,222.4

• Amount = Rs. 56,222.4

${\boxed{\sf{\purple{Compound ~Interest = Amount - Principal}}}}$

⇒ Rs. 56,222.4 - Rs. 50,000

⇒ Rs.6,222.4

$\orange{\bigstar}$ $\boxed{\underline{\sf{Compound~ Interest {\leadsto{Rs. 6,222.4}}}}}$

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Answer 2

Hope, this helps.

Use 'Successive conversion periods' formula