Question

Rs.20000 is borrowed at compound interest of 10%for first year,20%for second year and 10%for third year.the amount to be paid after 3years?

Answer 1

amount at the end of
1st yr=20000+2000(10%of20000)=22000
2nd yr =22000+4400(20%of 22000)=26400
3rd yr=26400+2640(10% of 26400)=29040
payment=29040