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Find the Amount and the Compound Interest on ₹ 10,000 in 3 Years, If the Rates of Interest for the Successive Years Are 10%, 15%, and 20% Respectively. - Mathematics

Sum

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

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Solution

Principal (P) = ₹10,000

Time (t) = 3 years

Rate (R1) = 10%

Rate (R2) = 15%

Rate (R3) = 20%

Amount =`"P"xx(1+"R"_1/100)(1+"R"_2/100)(1+"R"_3/100)`

`=₹10,000xx(1+10/100)(1+15/100)(1+20/100)`

`=₹10,000xx11/10xx23/20xx6/5`

= ₹15,180

C.I. = Amount − Principal

= ₹15,180 − ₹10,000

= ₹5180

Concept: Applications of Compound Interest Formula
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APPEARS IN

Selina Concise Mathematics Class 8 ICSE
Chapter 9 Interest
Exercise 9 (C) | Q 26 | Page 115
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