Question

Meenal lends *75,000 at C.I. for 3 years. If
the rate of interest for the first two years is
15% per year and for the third year it is 16%,
calculate the sum Meenal will get at the end
of the third year.
ANS-₹"115057.5"​

Answer 1

Answer:

Answer is 115057.5

Step-by-step explanation:

Principal = 75000

Time = 3 years

For first 2 years :-

Principal = 75000

Time = 2 years

Rate = 15%

Amount = 75000 (1 + 15/100)^2 = 75000 × 115/100 × 115/100 = 99187.5

For third year :-

Principal = 99187.5

Time = 1 year

Rate = 16%

Amount = 99187.5 (1 + 16/100)^1 = 99187.5 × 116/100 = 115057.5

Therefore, Answer = 115057.5

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