What is the compound interest on Rs. 5,000 for 3 years at 8% for the first year, 10% for the second year and 12% for the third year?

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Solution

Given : Principal value $P = 5, 000$ Rs., $n = 3, R_{1} = 8, R_{2} = 10, R_{3} = 12$
Amount $(A) = P (1 + \frac{R_{1}}{100}) (1 + \frac{R_{2}}{100}) (1 + \frac{R_{3}}{100})$
$= 5000 (1 + \frac{8}{100}) (1 + \frac{10}{100}) (1 + \frac{12}{100})$
$= 6652.8$
$C . I . = A - P = 6652.8 - 5000 = 1652.8 = 1653$
Hence, the correct answer is Rs. $1, 653$ .

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What is the compound interest on Rs. 5,000 for 3 years at 8% for the first year, 10% for the second year and 12% for the third year?

Given : Principal value P=5,000 Rs., n=3,R1=8,R2=10,R3=12Amount(A)=P(1+R1100)(1+R2100)(1+R3100) =5000(1+8100)(1+10100)(1+12100) =6652.8C.I.=A−P=6652.8−5000=1652.8=1653Hence, the correct answer is Rs. 1,653.