What will be the amount if a sum of Rs 10,000 is placed at CI for 3 yrs while the rate of interest for the first, second, and third years is 10%, 5%, and 2%, respectively?

Rs 11,781

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Rs 11,244

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Rs 11,231

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Rs 11,658

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Solution

The correct option is A Rs 11,781
When rates are different for different years. A $= P (1 + \frac{R 1}{100}) \times (1 + \frac{R 2}{100}) \times (1 + \frac{R 3}{100}) A m o u n t a f t e r 3 y r = 10, 000 \times (1 + \frac{2}{100}) \times (1 + \frac{5}{100}) \times (1 + \frac{10}{100}) = 10, 000 \times (\frac{102}{100}) \times (\frac{105}{100}) \times (\frac{110}{100}) = 102 \times 105 \times \frac{11}{10} = R s 11, 781$
Hence, option (a) is the answer.

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What will be the amount if a sum of Rs 10,000 is placed at CI for 3 yrs while the rate of interest for the first, second, and third years is 10%, 5%, and 2%, respectively?

The correct option is A Rs 11,781When rates are different for different years. A =P(1+R1100)×(1+R2100)×(1+R3100)Amount after 3 yr=10,000×(1+2100)×(1+5100)×(1+10100)=10,000×(102100)×(105100)×(110100)=102×105×1110=Rs11,781 Hence, option (a) is the answer.