What sum of money (in Rs.) at compound intere | vedclass

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

Question

(B) The formula for compound interest with varying rates is given by:$A = P \left(1 + \frac{R_1}{100}\right) \left(1 + \frac{R_2}{100}\right) \left(1

Vedclass · Accepted Answer

$5000$

Vedclass · Answer

(B) The formula for compound interest with varying rates 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 = 5305.53$$R_1 = 1\%$,$R_2 = 2\%$,$R_3 = 3\%$Substituting the values:$5305.53 = P \left(1 + \frac{1}{100}ight) \left(1 + \frac{2}{100}ight) \left(1 + \frac{3}{100}ight)$$5305.53 = P 	imes (1.01) 	imes (1.02) 	imes (1.03)$$5305.53 = P 	imes 1.061106$Solving for $P$:$P = \frac{5305.53}{1.061106}$$P = 5000$Thus,the sum of money is $Rs. 5000$.

What sum of money (in $Rs.$) at compound interest will amount to $Rs. 5305.53$ in $3$ years,if the rate of interest is $1 \%$ for the first year,$2 \%$ for the second year,and $3 \%$ for the third year?

Similar Questions

What is the difference between $C.I.$ and $S.I.$ on $Rs. 12000$ at $5 \%$ per annum for $2$ years?

If the difference between the $C.I.$ compounded half-yearly and simple interest on a sum at $10 \%$ per annum for one year is $Rs. 25$,the sum (in $Rs.$) is:

$A$ certain sum at compound interest amounts in two years to ₹ $2809$ and in three years to ₹ $2977.54$. Find the rate of interest and the original sum (in ₹).

The difference between the compound interest and the simple interest accrued on an amount of ₹ $18000$ in $2$ years was ₹ $405$. What was the rate of interest per cent per annum?

If the difference between $S.I.$ and $C.I.$ for $2$ years on a sum of money lent at $5 \%$ per annum is $₹ 6$,then the sum is:

Vedclass Test Series

Exam Paper Generator

Online Exam Module