Find the compound interest on ₹ 20,000 in 3 years, if the rate of interest for the successive years are 10%, 12%, and 15% respectively.

₹ 9546

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₹ 8336

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₹ 7596

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₹ 8596

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Solution

The correct option is B
₹ 8336

Principal(P)=₹ 20,000
Time(t)=3 years
Rate( $R_{1}$ )=10%
Rate( $R_{2}$ )=12%
Rate( $R_{3}$ )=15%
Amount= $P (1 + \frac{R_{1}}{100}) (1 + \frac{R_{2}}{100}) (1 + \frac{R_{3}}{100})$
$= ₹ 20, 000 \times (1 + \frac{10}{100}) (1 + \frac{12}{100}) (1 + \frac{15}{100})$
$= ₹ 20, 000 \times \frac{11}{10} \times \frac{28}{25} \times \frac{23}{20} = ₹ 28, 336$
C.I.=Amount-Principal
= ₹ 28,336- ₹ 20,000= ₹ 8336

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Find the compound interest on ₹ 20,000 in 3 years, if the rate of interest for the successive years are 10%, 12%, and 15% respectively.

The correct option is B ₹ 8336 Principal(P)=₹ 20,000 Time(t)=3 years Rate(R1)=10% Rate(R2)=12% Rate(R3)=15% Amount= P(1+R1100)(1+R2100)(1+R3100) =₹20,000×(1+10100)(1+12100)(1+15100) =₹20,000×1110×2825×2320=₹28,336 C.I.=Amount-Principal = ₹ 28,336- ₹ 20,000= ₹ 8336