Question

Simple and Compound Interest 139
Example 4. Calculate the amount due and the compound interest on 10000 in 2 years when the
rate of interest on successive years is 8% and 9% respectively.
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Answer 1

Answer:

Principal (P) = ₹ 10,000

Time (t) = 3 Years

Rate = (R1) = 10%

Rate = (R2) = 15%

Rate = (R3) = 20%

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

= ₹ 10,000 × (1 + (10/100)) (1 + (15/100)) (1 + (20/100))

= ₹10,000 × 11/10 × 23/20 × 6/5 = ₹15,180

C.I. = Amount – Principal

= ₹ 15,180 - ₹10,000 = ₹5180

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