The CI on Rs.9500 for 3 years at 5% for first year, 7% for second year, 10% for the third year will be?Rs.2560.48Rs.2340.67Rs.2240.57Rs.2241.67

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?Rs.2560.48Rs.2340.67Rs.2240.57Rs.2241.67

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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 follow these steps:

Calculate the interest for the first year: Interest for the first year = Principal amount * Rate of interest = 9500 * 5/100 = Rs.475
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Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
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