Find the compound interest on 750,000 for 3 years if the rates for 3 years are 2%, 4% and 6% respectively.​

Question

Find the compound interest on 750,000 for 3 years if the rates for 3 years are 2%, 4% and 6%
respectively.​

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Abigail 2 months 2021-10-10T13:36:45+00:00 1 Answer 0 views 0

Answers ( )

    0
    2021-10-10T13:38:21+00:00

    Step-by-step explanation:

    1

    st

    year

    Principal, P=Rs.5000

    Time, T=1 year

    Rate of interest ,R=6%

    ∴simple Interest, SI=

    100

    PTR

    =

    100

    5000×10×6

    =Rs.300

    ∴Amount=P+SI=Rs.5300

    2nd year

    Principal = Amount of 1st year=Rs.5300

    Rate of interest =8%

    Time =1 year

    ∴ Interest =

    100

    5300×1×8

    =Rs.424

    ∴ Amount =Rs.(5300+424)=Rs.5724

    The interest of 2nd year is the required compound interest. So, C.I=rs.424 and the required amount is Rs.5724

    please mark me as brainlist if my answer is correct please

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