If rate of interest be 4 % per annum for first year, 5 % per annum for second year and 6 % per annum

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6.Interest

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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 $Rs. 10000$ for $3$ years will be (In $Rs.$)

A

$1575.20$

B

$1600$

C

$1625.80$

D

$2000$

Solution

$A=10000\left[1+\frac{4}{100}\right]\left[1+\frac{5}{100}\right]\left[1+\frac{6}{100}\right]$

$=10000 \times \frac{26}{25} \times \frac{21}{20} \times \frac{53}{50}=\frac{289380000}{25000}=11575.20$

$C I=A-P=11575.20-10000=$ Rs. 1575.20

Standard 13

Quantitative Aptitude

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