Question

Calculate the amount and the compound interest on Rs. $16,000$ in $3$ years, when the rates of the interest for successive years are $10\%$, $14\%$ and $15\%$ respectively.

• A. Rs. $\mathrm{23.073.60}$ and Rs. $7,073.60$
• B. Rs. $\mathrm{23.073.60}$ and Rs. $7,873.60$
• C. Rs. $\mathrm{23.873.60}$ and Rs. $7,073.60$
• D. Rs. $\mathrm{28.073.60}$ and Rs. $7,073.60$

Answer 1

The correct option is A Rs. $\mathrm{23.073.60}$ and Rs. $7,073.60$

Int-rest amt after one year =$\frac{16000\times 10}{100}=1600$Rs

C.A after one year $=16000+1700=17600$ Rs

Intrest after two year =$\frac{17600\times 14}{100}=2464$

C.A after two years $=17600+2464=20064$ Rs

Intrest after thrree year =$\frac{20064\times 15}{100}=3009.60$

C.A after three years $=20064+3009.60=23073.60$ Rs

intrest after three year $=23073.60-16000=7073.60$ Rs