What will be the amount (in ₹) if a sum of ₹ | vedclass

Name: Exam Paper Generator | JEE NEET Paper Generator | Vedclass
Brand: Vedclass
Rating: 5 (35 reviews)

Question

(B) Given: Principal $(P) = ₹ 5000$,$R_1 = 2\%$,$R_2 = 3\%$,$R_3 = 4\%$,and time $(n) = 3$ years.The formula for the amount $(A)$ with varying rates o

Vedclass · Accepted Answer

$5463.12$

Vedclass · Answer

(B) Given: Principal $(P) = ₹ 5000$,$R_1 = 2\%$,$R_2 = 3\%$,$R_3 = 4\%$,and time $(n) = 3$ years.The formula for the amount $(A)$ with varying rates of interest is:$A = P 	imes (1 + \frac{R_1}{100}) 	imes (1 + \frac{R_2}{100}) 	imes (1 + \frac{R_3}{100})$Substituting the values:$A = 5000 	imes (1 + \frac{2}{100}) 	imes (1 + \frac{3}{100}) 	imes (1 + \frac{4}{100})$$A = 5000 	imes \frac{102}{100} 	imes \frac{103}{100} 	imes \frac{104}{100}$$A = 5000 	imes \frac{51}{50} 	imes \frac{103}{100} 	imes \frac{26}{25}$$A = 5000 	imes \frac{51 	imes 103 	imes 26}{50 	imes 100 	imes 25}$$A = 5000 	imes \frac{136578}{125000}$$A = 5000 	imes 1.092624 = ₹ 5463.12$Therefore,the amount is ₹ $5463.12$.

What will be the amount (in ₹) if a sum of ₹ $5000$ is placed at compound interest for $3$ years,while the rate of interest for the first,second,and third years is $2\%$,$3\%$,and $4\%$ per annum,respectively?

Similar Questions

If the difference between the compound interest and simple interest on a sum of money for $3$ years is ₹ $186$,find the sum of money (in ₹) if the rate of interest in both cases is $10 \%$.

The population of a town increases by $5 \%$ every year. If the present population is $9261,$ what was the population $3$ years ago?

In a certain number of years,a sum of money doubles itself at $6 \frac{1}{4} \%$ simple interest per annum. The required time (in $years$) is:

The least number of completed years in which a sum of money put out at $20 \%$ $C.I.$ will be more than doubled is

If the compound interest on a sum for $2$ years at $12 \frac{1}{2} \%$ per annum is ₹ $510$,the simple interest (in ₹) on the same sum at the same rate for the same period of time is:

Vedclass Test Series

Exam Paper Generator

Online Exam Module