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The CI on Rs.6000 for 3 years at 8% for first year, 7% for second year, 6% for the third year will be
- a)Rs.1430
- b)Rs.1530
- c)Rs.1250
- d)Rs.1350
- e)None of these
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
The CI on Rs.6000 for 3 years at 8% for first year, 7% for second year...
A = 6000*108/100*107/100*106/100
= 6000*1.08*1.07*1.06
= 7349.616 = 7350
CI = 7350-6000 = 1350
= 6000*1.08*1.07*1.06
= 7349.616 = 7350
CI = 7350-6000 = 1350
Most Upvoted Answer
The CI on Rs.6000 for 3 years at 8% for first year, 7% for second year...
A = 6000*108/100*107/100*106/100
= 6000*1.08*1.07*1.06
= 7349.616 = 7350
CI = 7350-6000 = 1350
= 6000*1.08*1.07*1.06
= 7349.616 = 7350
CI = 7350-6000 = 1350
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Community Answer
The CI on Rs.6000 for 3 years at 8% for first year, 7% for second year...
Given:
Principal amount (P) = Rs. 6000
Rate of interest for the first year (r1) = 8%
Rate of interest for the second year (r2) = 7%
Rate of interest for the third year (r3) = 6%
Time period (n) = 3 years
To find:
Compound Interest (CI)
Solution:
We can calculate the compound interest using the formula:
CI = P * (1 + r/100)^n - P
Calculation:
For the first year:
Principal amount (P) = Rs. 6000
Rate of interest (r) = 8%
Time period (n) = 1 year
CI1 = P * (1 + r/100)^n - P
= 6000 * (1 + 8/100)^1 - 6000
= 6000 * (1 + 0.08) - 6000
= 6000 * 1.08 - 6000
= 6480 - 6000
= Rs. 480
For the second year:
Principal amount (P) = Rs. 6000
Rate of interest (r) = 7%
Time period (n) = 1 year
CI2 = P * (1 + r/100)^n - P
= 6000 * (1 + 7/100)^1 - 6000
= 6000 * (1 + 0.07) - 6000
= 6000 * 1.07 - 6000
= 6420 - 6000
= Rs. 420
For the third year:
Principal amount (P) = Rs. 6000
Rate of interest (r) = 6%
Time period (n) = 1 year
CI3 = P * (1 + r/100)^n - P
= 6000 * (1 + 6/100)^1 - 6000
= 6000 * (1 + 0.06) - 6000
= 6000 * 1.06 - 6000
= 6360 - 6000
= Rs. 360
Total Compound Interest (CI):
CI = CI1 + CI2 + CI3
= 480 + 420 + 360
= Rs. 1260
Thus, the compound interest on Rs. 6000 for 3 years at 8% for the first year, 7% for the second year, and 6% for the third year is Rs. 1260, which is not listed in the given options. Therefore, none of the options is correct.
Principal amount (P) = Rs. 6000
Rate of interest for the first year (r1) = 8%
Rate of interest for the second year (r2) = 7%
Rate of interest for the third year (r3) = 6%
Time period (n) = 3 years
To find:
Compound Interest (CI)
Solution:
We can calculate the compound interest using the formula:
CI = P * (1 + r/100)^n - P
Calculation:
For the first year:
Principal amount (P) = Rs. 6000
Rate of interest (r) = 8%
Time period (n) = 1 year
CI1 = P * (1 + r/100)^n - P
= 6000 * (1 + 8/100)^1 - 6000
= 6000 * (1 + 0.08) - 6000
= 6000 * 1.08 - 6000
= 6480 - 6000
= Rs. 480
For the second year:
Principal amount (P) = Rs. 6000
Rate of interest (r) = 7%
Time period (n) = 1 year
CI2 = P * (1 + r/100)^n - P
= 6000 * (1 + 7/100)^1 - 6000
= 6000 * (1 + 0.07) - 6000
= 6000 * 1.07 - 6000
= 6420 - 6000
= Rs. 420
For the third year:
Principal amount (P) = Rs. 6000
Rate of interest (r) = 6%
Time period (n) = 1 year
CI3 = P * (1 + r/100)^n - P
= 6000 * (1 + 6/100)^1 - 6000
= 6000 * (1 + 0.06) - 6000
= 6000 * 1.06 - 6000
= 6360 - 6000
= Rs. 360
Total Compound Interest (CI):
CI = CI1 + CI2 + CI3
= 480 + 420 + 360
= Rs. 1260
Thus, the compound interest on Rs. 6000 for 3 years at 8% for the first year, 7% for the second year, and 6% for the third year is Rs. 1260, which is not listed in the given options. Therefore, none of the options is correct.
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The CI on Rs.6000 for 3 years at 8% for first year, 7% for second year, 6% for the third year will bea)Rs.1430b)Rs.1530c)Rs.1250d)Rs.1350e)None of theseCorrect answer is option 'D'. Can you explain this answer?
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