Question

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.$4294.40$
• B. Rs.$3634.40$
• C. Rs.$5394.40$
• D. None of these
  

Answer 1

The correct option is D None of these

Sum$=Rs.12000$

Time$=3$ years

Rate of interest$=8\%,10\%,15\%$

Required amount, A = $P(1+\frac{r_1}{100})(1+\frac{r_2}{100})(1+\frac{r_3}{100})$
$\Rightarrow A=Rs.12000(1+\frac{8}{100})(1+\frac{10}{100})(1+\frac{15}{100})$

$\Rightarrow 12000\times \frac{108}{100}\times \frac{110}{100}\times \frac{115}{100}$
$\Rightarrow Rs.16394.40$
$C.I.=Rs.16394.40-Rs.12000=Rs.4394.40$