Question
What will be the amount if a sum of Rs. 6500 is placed
at compound interest for 3 years while the rate of interest for the first, second and third years is 4%, 5% and 6% respectively?Solution
Amount = P [1 + (r1/100)] [(1 + r2/100)] [(1 + r3/100)] Amount = 6500 × (104/100) × (105/100) × (106/100) => Rs. 7523.88
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