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Question

Calculate the compound interest on ₹ 15000 in 3 years; if the rates of interest for successive years be 6%, 8% and 10% respectively.



A

₹ 3789.20

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B

₹ 3889.20

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C

₹ 4389.20

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D

₹ 3684.20

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Solution

The correct option is B

₹ 3889.20


Principal(P)=₹ 15000
Time(t)=3 years
Rate(R1)= 6%
Rate(R2)= 8%
Rate(R3)=10%
Amount= P(1+R1100)(1+R2100)(1+R3100)
=15000×(1+6100)(1+8100)(1+10100)
=15000×5350×2725×1110=18889.20
C.I.=Amount-Principal
= ₹ 18889.20- ₹ 15000= ₹ 3889.20


Mathematics

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