Math, asked by Atlas99, 1 month ago

Topic - Compound interest

Ashok invested Rs5 lakh in a bank for 3 years compounded annually, the rate of interest being 6% p.a. for the first year, 7% for the second year, and 8% p.a. for the third year. Find the amount and the compound interest after 3 years.

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Answers

Answered by Anonymous
3

Answer:

We have,

A=Rs.6272,P=Rs.5000,T=2 years

Part (i)

We know that

A=P(1+

100

R

)

T

or, 6272=5000(1+

100

R

)

2

or, (1+

100

R

)

2

=1.2544

or, 1+

100

R

=1.12

or,

100

R

=0.12

or, R=12%

Part (ii)

The amount at the end of the 3rd year.

A=5000(1+

100

12

)

3

A=5000(1+

25

3

)

3

A=5000(

25

28

)

3

A=Rs.7024.64

Answered by Anonymous
36

Question:-

Ashok invested Rs5 lakh in a bank for 3 years compounded annually, the rate of interest being 6% p.a. for the first year, 7% for the second year, and 8% p.a. for the third year. Find the amount and the compound interest after 3 years.

Given:-

  • {\sf{{Here, P = ₹5,00,000_{}}}}
  • {\sf{{R_{1}}}}{\sf{{ =6\%p.a _{}}}}
  • {\sf{{R_{2}}}}{\sf{{ = 7\%p.a \:  \:  \: and_{}}}}
  • {\sf{{R_{3}}}}{\sf{{ = 8\%p.a_{}}}}

To Find:-

  • Amount and the compund interest after 3years.

Solution:-

\therefore Amount =  A = P \\   (1 +  \frac{{\sf{{R_{1}}}}}{100} )   (1 +  \frac{{\sf{{R_{2}}}}}{100} ) (1 +  \frac{{\sf{{R_{3}}}}}{100} )

 =   5,00,000  \times (1 +  \frac{6}{100} )(1 +  \frac{7}{100} ) \\ (1 +  \frac{8}{100} )

 = 5,00,000 \times  \frac{53}{50} \times  \frac{107}{100}   \times  \frac{27}{25}  \\  \:  \:  \:  \:  \:  \:  \:  \:  \:  \:  \:  \:  \:  \:  \:  \:  \:  \:  \:  \:  \:  \:  \:  \:  \:  \:  \:  = 6,12,468

  • Thus, the amount after 3years, is A = ₹6,12,468 and the compound interest is

  • CI = A – P = ₹6,12,468 – ₹5,00,000 = ₹1,12,468.

Answer:-

  • Amount after 3years = A = ₹6,12,468.

  • Compound Interest = ₹1,12,468.

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