Q. If the rate of interest be 4% per annum for first year, 5% per annum for second year and 6% per annum for third year, then the compound interest of 10000 Rs. for 3 years will be :
Answer: 1575.20 Rs.
Notes: Amount =
$latex = P\left ( 1+\frac{R_{1}}{100} \right )\left ( 1+\frac{R_{2}}{100} \right )\left ( 1+\frac{R_{3}}{100} \right )&s=1$
$latex = 10000\left ( 1+\frac{4}{100} \right )\left ( 1+\frac{5}{100} \right )\left ( 1+\frac{6}{100} \right )&s=1$
$latex = 10000\times \frac{26}{25}\times \frac{21}{20}\times \frac{53}{50}&s=1$
$latex A = 11575.2Rs.$
$latex \therefore C.I. = \left ( 11575.2-10000 \right ) = 1575.2Rs.$
Hence option [A] is correct answer.
