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The CI on Rs.9500 for 3 years at 5% for first year, 7% for second year, 10% for the third year will be?

Question

The CI on Rs.9500 for 3 years at 5% for first year, 7% for second year, 10% for the third year will be?

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Solution 1

To calculate the compound interest (CI) on Rs.9500 for 3 years with different interest rates for each year, we can follow these steps:

  1. Calculate the interest for the first year: Interest for the first year = Principal amount * Rate of interest for the first year / 100 = 9500 * 5 / 100 = Rs.475

  2. Add the interest for the first year to the principal amount to get the new principal amount for the second year: New principal amount = Principal amount + Interest for the first year = 9500 + 475 = Rs.9975

  3. Calculate the interest for the second year: Interest for the second year = New principal amount * Rate of interest for the second year / 100 = 9975 * 7 / 100 = Rs.698.25

  4. Add the interest for the second year to the new principal amount to get the new principal amount for the third year: New principal amount = New principal amount + Interest for the second year = 9975 + 698.25 = Rs.10673.25

  5. Calculate the interest for the third year: Interest for the third year = New principal amount * Rate of interest for the third year / 100 = 10673.25 * 10 / 100 = Rs.1067.325

  6. Add the interest for the third year to the new principal amount to get the final amount: Final amount = New principal amount + Interest for the third year = 10673.25 + 1067.325 = Rs.11740.575

  7. The compound interest is the final amount minus the original principal amount: CI = Final amount - Original principal amount = 11740.575 - 9500 = Rs.2240.575

So, the compound interest on Rs.9500 for 3 years at 5% for the first year, 7% for the second year, and 10% for the third year will be Rs.2240.575.

This problem has been solved

Solution 2

To calculate the compound interest (CI) on Rs.9500 for 3 years with different interest rates for each year, we can follow these steps:

  1. Calculate the interest for the first year: Interest for the first year = Principal amount * Rate of interest for the first year / 100 = 9500 * 5 / 100 = Rs.475

  2. Add the interest for the first year to the principal amount to get the new principal amount for the second year: New principal amount = Principal amount + Interest for the first year = 9500 + 475 = Rs.9975

  3. Calculate the interest for the second year: Interest for the second year = New principal amount * Rate of interest for the second year / 100 = 9975 * 7 / 100 = Rs.698.25

  4. Add the interest for the second year to the new principal amount to get the new principal amount for the third year: New principal amount = New principal amount + Interest for the second year = 9975 + 698.25 = Rs.10673.25

  5. Calculate the interest for the third year: Interest for the third year = New principal amount * Rate of interest for the third year / 100 = 10673.25 * 10 / 100 = Rs.1067.325

  6. The compound interest for the 3 years is the sum of the interest for each year: CI = Interest for the first year + Interest for the second year + Interest for the third year = 475 + 698.25 + 1067.325 = Rs.2240.575

So, the compound interest on Rs.9500 for 3 years at 5% for the first year, 7% for the second year, and 10% for the third year will be Rs.2240.575.

This problem has been solved

Solution 3

To calculate the compound interest (CI) on Rs.9500 for 3 years with different interest rates for each year, we can follow these steps:

  1. Calculate the interest for the first year: Interest for the first year = Principal amount * Rate of interest for the first year / 100 = 9500 * 5 / 100 = Rs.475

  2. Add the interest for the first year to the principal amount to get the new principal amount for the second year: New principal amount = Principal amount + Interest for the first year = 9500 + 475 = Rs.9975

  3. Calculate the interest for the second year: Interest for the second year = New principal amount * Rate of interest for the second year / 100 = 9975 * 7 / 100 = Rs.698.25

  4. Add the interest for the second year to the new principal amount to get the new principal amount for the third year: New principal amount = New principal amount + Interest for the second year = 9975 + 698.25 = Rs.10673.25

  5. Calculate the interest for the third year: Interest for the third year = New principal amount * Rate of interest for the third year / 100 = 10673.25 * 10 / 100 = Rs.1067.325

  6. Add the interest for the third year to the new principal amount to get the final amount: Final amount = New principal amount + Interest for the third year = 10673.25 + 1067.325 = Rs.11740.575

  7. The compound interest is the final amount minus the original principal amount: CI = Final amount - Original principal amount = 11740.575 - 9500 = Rs.2240.575

So, the compound interest on Rs.9500 for 3 years at 5% for the first year, 7% for the second year, and 10% for the third year will be Rs.2240.575.

This problem has been solved

Solution 4

To calculate the compound interest (CI) on Rs.9500 for 3 years with different interest rates for each year, we can follow these steps:

  1. Calculate the interest for the first year: Interest for the first year = Principal amount * Rate of interest for the first year / 100 = 9500 * 5 / 100 = Rs.475

  2. Add the interest for the first year to the principal amount to get the new principal amount for the second year: New principal amount = Principal amount + Interest for the first year = 9500 + 475 = Rs.9975

  3. Calculate the interest for the second year: Interest for the second year = New principal amount * Rate of interest for the second year / 100 = 9975 * 7 / 100 = Rs.698.25

  4. Add the interest for the second year to the new principal amount to get the new principal amount for the third year: New principal amount = New principal amount + Interest for the second year = 9975 + 698.25 = Rs.10673.25

  5. Calculate the interest for the third year: Interest for the third year = New principal amount * Rate of interest for the third year / 100 = 10673.25 * 10 / 100 = Rs.1067.325

  6. The compound interest for the 3 years is the sum of the interest for each year: CI = Interest for the first year + Interest for the second year + Interest for the third year = 475 + 698.25 + 1067.325 = Rs.2240.575

So, the compound interest on Rs.9500 for 3 years at 5% for the first year, 7% for the second year, and 10% for the third year will be Rs.2240.575.

This problem has been solved

Solution 5

To calculate the compound interest (CI) on Rs.9500 for 3 years with different interest rates for each year, we can follow these steps:

  1. Calculate the interest for the first year: Interest for the first year = Principal amount * Rate of interest for the first year / 100 = 9500 * 5 / 100 = Rs.475

  2. Add the interest for the first year to the principal amount to get the new principal amount for the second year: New principal amount = Principal amount + Interest for the first year = 9500 + 475 = Rs.9975

  3. Calculate the interest for the second year: Interest for the second year = New principal amount * Rate of interest for the second year / 100 = 9975 * 7 / 100 = Rs.698.25

  4. Add the interest for the second year to the new principal amount to get the new principal amount for the third year: New principal amount = New principal amount + Interest for the second year = 9975 + 698.25 = Rs.10673.25

  5. Calculate the interest for the third year: Interest for the third year = New principal amount * Rate of interest for the third year / 100 = 10673.25 * 10 / 100 = Rs.1067.325

  6. Add the interest for the third year to the new principal amount to get the final amount: Final amount = New principal amount + Interest for the third year = 10673.25 + 1067.325 = Rs.11740.575

  7. The compound interest is the final amount minus the original principal amount: CI = Final amount - Original principal amount = 11740.575 - 9500 = Rs.2240.575

So, the compound interest on Rs.9500 for 3 years at 5% for the first year, 7% for the second year, and 10% for the third year will be Rs.2240.575.

This problem has been solved

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