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sonali singh

· started a discussion

· 1 Months ago

problem (Question: 121723.0 )

explanation is not clear

Question:
What is the compound interest on \(\unicode{x20B9} \)30000 for 3 years if the rate of interest is 5% for the first year, 10% for the second year and 15% for the third year?
Options:
A) \(\unicode{x20B9} \)7000
B) \(\unicode{x20B9} \)6927
C) \(\unicode{x20B9} \)8525
D) \(\unicode{x20B9} \)9400
E) None of these
Solution:

Ans:(e)

When Rates are different for different years, let R1%, R2%, R3% for 1st, 2nd and 3rd year respectively.Then, 


Amount = P(1+R1/100)(1+R2/100)(1+R3/100


Amount =   30000 × \(\cfrac{105}{100}\)  × \(\cfrac{110}{100}\) × \(\cfrac{115}{100}\)  = 39847.5

C.I. = 39847.5 – 30000

= \(\unicode{x20B9} \)9847.5

kanhaiya jha

· commented

· 1 Months ago

:)

sonali singh

· commented

· 1 Months ago

thankyou

kanhaiya jha

· commented

· 1 Months ago

Hi, When Rates are different for different years, let R1%, R2%, R3% for 1st, 2nd and 3rd year respectively.Then,


Amount = P(1+R1/100)(1+R2/100)(1+R3/100)


Amount = 30000 × (105/100) × (110/100) × (115/100) = 39847.5


C.I. = 39847.5 – 30000


= ₹9847.5
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