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Question 1:
What will be the amount if sum of Rs.10,00,000 is invested at compound interest for 3 years with rate of interest 11%, 12% and 13% respectively? A. Rs.14,04,816
Feedback Given
Here, P = Rs.10,00,000, R1 = 11 , R2 = 12, R3 = 13.
Each rate of interest is calculated for one year.
Hence, N = 1 year.
Amount after 3 years,
= P(1 + R1/100) (1 + R2/100) (1 + R3/100)
= 10,00,000 × (1 + 11/100) × (1 + 12/100) × (1 + 13/100)
= 10,00,000 × (111/100) × (112/100) × (113/100)
= 111 x 112 x 113
= 14,04,816
Hence the total amount after 3 years is Rs.14,04,816
Here, P = Rs.10,00,000, R1 = 11 , R2 = 12, R3 = 13.
Each rate of interest is calculated for one year.
Hence, N = 1 year.
Amount after 3 years,
= P(1 + R1/100) (1 + R2/100) (1 + R3/100)
= 10,00,000 × (1 + 11/100) × (1 + 12/100) × (1 + 13/100)
= 10,00,000 × (111/100) × (112/100) × (113/100)
= 111 x 112 x 113
= 14,04,816
Hence the total amount after 3 years is Rs.14,04,816
B. Rs.16,00,816
C. Rs 12,14,816
D. 11, 13,816
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