Multiple choice

What sum of money at compound interest will amount to Rs. 26194.40 in three years, if the rate of interest is 5% for the first year, 8% for the second year and 10% for the third years? कितने रूपयें की धनराशि तीन वर्षो में चक्रवृद्धि ब्याज की दर पर 26194.40 रू. हो जायेगी। यदि ब्याज की दर प्रथम वर्ष के लिए 5%, दूसरे वर्ष के लिए 8% और तीसरे वर्ष के लिए 10% है?

  1. Rs. 20000

  2. Rs. 21000

  3. Rs. 22000

  4. Rs. 23000

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let P be the principal. After 3 years: P×1.05×1.08×1.10 = 26194.40. So P = 26194.40/(1.05×1.08×1.10) = 26194.40/1.2474 = Rs. 21000. Each year, different rates apply to the accumulated amount.