Question

Find the compound interest on rupees 25000 for three year if rate for first year is 10%, 12%for the second year and 15% for the third year p.a.

Answer 1

Given ,

Principal = ₹25000

Rate for 1st year = 10%

Rate for 2nd year = 12%

Rate for 3rd year = 15%

To Find :-

The compound interest.

Solution :-

For the first year :-

$Interest\: =\: {\dfrac{P\times R\times T}{100}}$

$Interest\: =\: {\dfrac{25000\times 10\times 1}{100}}$

= ₹2,500

Amount = Principal + Interest

= ₹25000 + 2500

= 27,500

For the second year :-

$Interest\: =\: {\dfrac{P\times R\times T}{100}}$

$Interest\: =\: {\dfrac{27500\times 12\times 1}{100}}$

= ₹3,300

Amount = Principal + Interest

= ₹27500 + 3300

= ₹30,800

For the third year :-

$Interest\: =\: {\dfrac{P\times R\times T}{100}}$

$Interest\: =\: {\dfrac{30800\times 15\times 1}{100}}$

= ₹4,620

Amount = Principal + Interest

= ₹30800 + 4620

= ₹35,420

Therefore, final amount = ₹35,420

CI = Final amount - Original principal

= ₹35,420 - ₹25000

= ₹ 10,420

Therefore, the compound interest is ₹10420.

Short-hands Used :-

• P = Principal
• R = Rate
• T = Time
• I = Interest
• A = Amount
• CI = Compound Interest
• FA = Final amount
• OP = Original principal

Answer 2

Answer:

Given ,

Principal = ₹25000

Rate for 1st year = 10%

Rate for 2nd year = 12%

Rate for 3rd year = 15%

To Find :-

The compound interest.

Solution :-

For the first year :-

= ₹2,500

Amount = Principal + Interest

= ₹25000 + 2500

= 27,500

For the second year :-

= ₹3,300

Amount = Principal + Interest

= ₹27500 + 3300

= ₹30,800

For the third year :-

= ₹4,620

Amount = Principal + Interest

= ₹30800 + 4620

= ₹35,420

Therefore, final amount = ₹35,420

CI = Final amount - Original principal

= ₹35,420 - ₹25000

= ₹ 10,420

Therefore, the compound interest is ₹10420.

Short-hands Used :-

P = Principal

R = Rate

T = Time

I = Interest

A = Amount

CI = Compound Interest

FA = Final amount

OP = Original principal

Step-by-step explanation: