Question

Find the compound interest on Rs. 20000 for 3 years at 5%​

Answer 1

Answer:

Rs.6565

Step-by-step explanation:

Given - 20000 x 105/100 x 110/100 x 115/100 - 20000 x (21/20) x (11/10) x (23/20) = 26565 = (26565 - 20000) = 6565 GIVEN : R = 5% R2 = 10% R3 = 15% CALCULATION : In 1st year, Principal = Rs. 2000 Rate of interest = 5% Amount, - 20000(1 + 5/100) - 21000 In 2nd year, Principal = Rs. 21000 Rate of interest = 10% Amount, - 21000(1 + 10/100) - 23100 In 3rd year, Principal = Rs. 23100 Rate of interest = 15% Amount, - 23100(1 + 15/100) - 26565 Interest earned = (26565 20000) = Rs. 6565 : the correct answer is Rs.6565