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

The simple interest accrued on an amount of $Rs. 19800$ at the end of $3$ years is $Rs. 7128$. What would be the compound interest (in $Rs.$) accrued on the same amount at the same rate in the same period?

$A$ sum of money placed at compound interest doubles itself in $5$ years. It will amount to eight times itself at the same rate of interest in (in $years$):

In the year $2008$,$5000$ students were admitted to a college. It is found that the number of students admitted is constantly increasing by $24\%$ per year. How many students will be admitted to the college in the year $2010$?

What sum of money (in ₹) at compound interest will amount to ₹ $650$ at the end of the first year and ₹ $676$ at the end of the second year?

If $Rs. 1200$ amounts to $Rs. 1323$ in $2$ years at compound interest compounded annually,what will $Rs. 1600$ amount (in $Rs.$) to in $3$ years at the same rate?

Vedclass Test Series

Exam Paper Generator

Online Exam Module