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Question

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


  1. ₹ 5280

  2. ₹  5120

  3. ₹ 5180

  4. ₹  5240


Solution

The correct option is C

₹ 5180


Principal(P)=₹ 10000
Time(t)=3 years
Rate(R1)=10%
Rate(R2)=15%
Rate(R3)=20%
Amount= P(1+R1100)(1+R2100)(1+R3100)
=10000×(1+10100)(1+15100)(1+20100)
=10000×1110×2320×65=15180
C.I.=Amount-Principal
= ₹ 15180- ₹ 10000= ₹  5180

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