Question

find the compound interest on rs. 4000 accrued in three years, when the rate of interest is 8% for first year and 10% per year for second and third year.

Answer 1

Step-by-step explanation:

for 1st year:

I = PTR/100

= 4000*1*8/100

=rs. 320

for 2nd year:

P= A1= 4000+320

= 4320

I2 = 4320*1*10/100

= rs. 432

for 3rd year:

P= 4320+432 = 4752

I3= 4752*1*10/100

= rs. 475.20

CI = I1+I2+I3

= 320+432+475.20

= Rs. 1227.20 (answer)