Aman has taken a loan of ₹ 25,000 for 3 years, in such a way that the compound interest for 1st year, 2nd year and 3rd year is 4%, 5% and 6% p.a. respectively. Find the amount be deposited after 3 years.
WBBSE
Class X
Mathematics
Compound Interest
5
2024
Principal (P) = ₹ 25,000
Rate (r) = 4%, 5% and 6%
Formula: Amount = Principal × (1 + \frac{r₁}{100}) × (1 + \frac{r₂}{100}) × (1 + \frac{r3}{100})
Amount = 25000 × (1 + \frac{4}{100}) × (1 + \frac{5}{100}) × (1 + \frac{6}{100})
= 25000 × \frac{104}{100} × \frac{105}{100} × \frac{106}{100}
= ₹ 28,938
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