Question

Mr. Sunil deposited * 10,000 in a bank for 3 years
offering interest at the rate of 6 percent compounded
half yearly during first year, at the rate of 12 percent
compounded quarterly during second year and at 10
percent compounded continuously during third year. Find
his balance after 3 years
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Answer 1

Answer:

given P = 10000 , r₁ = 6% half-year, r₂ = 12% quarterly , r₃ = 10% monthly, n₁ = n₂ = n₃ = 1

A = 10000 (1 + 6/200)² (1 + 12/400)⁴ (1 + 10/1200)¹²

A = 10000 (1+3/100)² (1+3/100)⁴ (1+1/120)¹²

A = 10000 (103/100)² (103/200)⁴ (121/120)¹²

A = 10000 ( 1.03)² (1.03)⁴ (1.008)¹²

A = 10000 (1.03/)⁶ (1.008)¹²

A = 1000 × 1.194 × 1.1

A= Rs 13,134

he receives Rs 13,134 at the end of 3 years