calculate compound interest on Rs 60,000 for 3 years if rate for 3 years is 4%,5%,6% ​

Question

calculate compound interest on Rs 60,000 for 3 years if rate for 3 years is 4%,5%,6%

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Sadie 2 weeks 2021-10-08T05:06:12+00:00 2 Answers 0 views 0

Answers ( )

    0
    2021-10-08T05:07:13+00:00

    Answer:

    Step-by-step explanation:

    So formula= P(1+r/100)(1+r/100)(1+r/100)

    60000(1+4/100)(1+5/100)(1+6/100),

    69451.20.

    69451.20-60000,

    9451.20 is the Compound interest!

    0
    2021-10-08T05:07:22+00:00

    Answer:


    Amount = 66780


    Compound Interest  = 6780


    Step-by-step explanation: P = 60000


    I = 5%


    Interest for 1 year = (P * R * T) / 100


                                =(60000*5*1) / 100


                                = 3000


    P for 2nd year = 60000 + 3000 = 63000


    I = 6%


    Interest for 2nd year = (P * R * T) / 100


                                      =(63000*6*1) / 100


                                      = 3780


    Amount = 63000 + 3780 = 66780


    Compound Interest  = 3000 + 3780 = 6780


    Hope , it helps.

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