Question

Find the amount and the compound interest on Rs. 10000 in 3 years, if the rate of interest for the successive years are 10%, 15% and 20% respectively.

Answer 1

Principal(P)=Rs. 10000
Time(t)=3 years
Rate($R_1$)=10%
Rate($R_2$)=15%
Rate($R_3$)=20%
Amount= $P(1+\frac{R_1}{100})(1+\frac{R_2}{100})(1+\frac{R_3}{100})$
$=Rs.10000\times (1+\frac{10}{100})(1+\frac{15}{100})(1+\frac{20}{100})$
$=Rs.10000\times \frac{11}{10}\times \frac{23}{20}\times \frac{6}{5}=Rs.15180$
C.I.=Amount-Principal
=Rs. 15180-Rs. 10000=Rs. 5180