Question

please help :- find the amount of the compound interest on ₹15000 compound annually at the rates of interest 5%,8%,10% for three consecutive years respectively ​

Answer 1

Answer:

15000*105*108*110/100*100*100=18711

Answer 2

Question :-

Find the amount of the compound interest on ₹15000 compound annually at the rates of interest 5%,8%,10% for three consecutive years respectively.

Answer :-

The amount is Rs.18711 and compound interest is Rs. 3711

Solution : -

Given, Rs 15000 compounded annually, the rate of interest being 5 %, 8% ,10% respectively for 3 successive years.

We have to find amount and compound interest.

Now, we know that,

When Rates are different for different years, say R1 %, R2 %, R3 % for 1st, 2nd and 3rd year respectively.

Amount = p (1+R1/100) (1+R2/100) (1+R3/100)

Here, p is principal amount = 15000, R1 = 5, R2 = 8, R3 = 10. Substitute values in above formula.

Amount = 15000 x (1+5/100) x (1+8/100) x (1+10/100)

Amount = 15000 x 1.05 x 1.08 x 1.1 = 18711

So, amount is Rs.18711.

Now, compound interest = amount – principal amount = 18711 – 15000 = 3711

Hence, amount is Rs.18711 and compound interest is Rs. 3711

Hope it helps! Mrk as brainliest ❤