Question

How much will Rs. $9,000$ amount to in $3$ years, at compound interest, if the rates for successive years are $12\%$, $15\%$ and $20\%$ per year respectively?

• A. Rs. $13810.40$
• B. Rs. $13710.40$
• C. Rs. $13910.40$
• D. Rs. $12910.40$

Answer 1

The correct option is C Rs. $13910.40$

$A=9000\times (1+\frac{12}{100})(1+\frac{15}{100})(1+\frac{20}{100})$

$A=9000\times \frac{112}{100}\times \frac{115}{100}\times \frac{120}{100}$

$A=\frac{112\times 115\times 12\times 9}{100}$

$A=13910.40Rs$