What sum will amount (in ₹) to ₹ 15916.59 in | vedclass

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(C) Let the principal sum be ₹ $P$.The formula for the amount $A$ with varying rates of interest $R_1, R_2, R_3$ for $3$ years is given by:$A = P \lef

Vedclass · Accepted Answer

$15000$

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(C) Let the principal sum be ₹ $P$.The formula for the amount $A$ with varying rates of interest $R_1, R_2, R_3$ for $3$ years is given by:$A = P \left(1 + \frac{R_1}{100}ight) \left(1 + \frac{R_2}{100}ight) \left(1 + \frac{R_3}{100}ight)$Given $A = 15916.59$,$R_1 = 3$,$R_2 = 2$,and $R_3 = 1$:$15916.59 = P \left(1 + \frac{3}{100}ight) \left(1 + \frac{2}{100}ight) \left(1 + \frac{1}{100}ight)$$15916.59 = P \left(\frac{103}{100} 	imes \frac{102}{100} 	imes \frac{101}{100}ight)$$15916.59 = P \left(\frac{1061106}{1000000}ight)$$P = \frac{15916.59 	imes 1000000}{1061106}$$P = \frac{15916590000}{1061106} = 15000$Thus,the required sum is ₹ $15000$.

What sum will amount (in ₹) to ₹ $15916.59$ in $3$ years at compound interest,if the interest rates for the first,second,and third year are $3\%$,$2\%$,and $1\%$ respectively?

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