If the rate of interest be 4% per annum for first year 5% per annum for the second year and 6% per annum from the third year then the compound interest of Rs 10000 for 3 years will be_________?

A. Rs 1575.20
B. Rs 1600
C. Rs 1625.80
D. Rs 2000

Explanation:

Amount = Rs[10000 × (1 + 4/100) × (1 +5/100) × (1 × 6/100)]

= Rs(1000 × 26/25 × 21/20 × 53/50)
= Rs (57876/5) = Rs 11575.20
C.I = Rs (11575.20 – 10000) = Rs 1575.20

Correct Answer: Rs 1575.20 ✔

Last Updated: February 07, 2020