Calculation of Compound Interest when Interest is Compounded Annually but Rates being Different for Different Years:
Illustration: Find the amount after two years compounded annually when rate of interest for first year is 5% and 15% for the next year when the principal is Rs. 4000.
Solution:
Find the amount of $12,500 for 2 years compounded annually, the rate if interest being 15 % for the 1st year and 16 % for the second year. | |||
Right Option : A | |||
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Find the amount after two years compounded annually when rate of interest for first year is 5 % and 10 % for the next year when the principal is Rs 3000. | |||
Right Option : B | |||
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A company offers the following growing rates of compound interest annually to the investors on successive years of investment : 4%, 5% and 6%. A man invests Rs 25,000 for 3 years. What will be his gain? | |||
Right Option : D | |||
View Explanation |
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