Calculate the amount and the compound interest on Rs. 12,000 in 3 years when the rates of interest for successive years are 8%, 10% and 15% respectively.
A
Rs.4294.40
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B
Rs.3634.40
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C
Rs.5394.40
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D
None of these
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Solution
The correct option is D None of these
Sum=Rs.12000
Time=3 years
Rate of interest=8%,10%,15%
Required amount, A = P(1+r1100)(1+r2100)(1+r3100) ⇒A=Rs.12000(1+8100)(1+10100)(1+15100)