Find the compound interest accrued on $6, 000$ in $3$ years, compounded yearly, if the successive years are $5 %$ , $8 %$ and $10 %$ respectively.

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Solution

Given, $P =$ Rs. $6000$ , $n = 3$ years, $r_{1} = 5 %$ , $r_{2} = 8 %$ and $r_{3} = 10 %$ .
Amount $(A)$ after three years is given by
$A = P (1 + \frac{r_{1}}{100})$ $(1 + \frac{r_{2}}{100})$ $(1 + \frac{r_{3}}{100})$

$= P (1 + \frac{5}{100})$ $(1 + \frac{8}{100})$ $(1 + \frac{10}{100})$

$= 6000 (\frac{21}{20})$ $(\frac{27}{25})$ $(\frac{11}{10})$
$=$ Rs. $7484.40$
$∴$ Compound interest (C.I.) $= A - P$
$=$ Rs. $(7484.40 - 6000)$
$=$ Rs. $1484.40$

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Find the compound interest accrued on 6,000 in 3 years, compounded yearly, if the successive years are 5%, 8% and 10% respectively.

Given, P= Rs. 6000, n=3 years, r1=5%, r2=8% and r3=10%.Amount (A) after three years is given by A=P(1+r1100)(1+r2100) (1+r3100) =P(1+5100)(1+8100) (1+10100) =6000(2120)(2725) (1110) = Rs. 7484.40∴ Compound interest (C.I.) =A−P= Rs. (7484.40−6000)= Rs. 1484.40

Find the compound interest accrued on $6, 000$ in $3$ years, compounded yearly, if the successive years are $5 %$ , $8 %$ and $10 %$ respectively.