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AFCAT I 12 Feb 2022 Shift 1 Paper
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© examsnet.com
Question : 60
Total: 100
Rs. 56000 is invested at the rate of 5% for 1st year, at 10% for 2nd year and at 15% for the 3rd year. Find the total compound interest earned in these 3 years.
Rs. 18283
Rs. 18382
Rs. 18832
Rs. 18238
Validate
Solution:
👈: Video Solution
Given
Principal = Rs 56000
Rate of interest for 1st year = 5%
For 2nd year = 10%
For 3rd year = 15%
Formula Used
Amount
=
Principal
(
1
+
R
1
100
)
×
(
1
+
R
2
100
)
×
.
.
.
.
.
.
.
.
.
.
Interest = Amount - Principal
Calculation
Amount =
56000
×
(
105
100
)
×
(
110
100
)
×
(
115
100
)
⇒
(
56000
×
105
×
110
×
115
)
1000000
= Rs 74,382
Interest = Rs 74,382 - Rs 56000 = Rs 18,382
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