Multiple choice

What sum of money at compound interest will amount to Rs.22214.01 in 3 years if the rate of interest is 3% for the first year, 4% for the second year, and 5% for the third year? चक्रवृद्धि ब्याज पर कितनी धनराशि 3 वर्ष में 22214.01 रुपये के मिश्रधन के समान हो जायेगी यदि ब्याज दर पहले वर्ष के लिए 3%, दूसरे वर्ष के लिए 4% और तीसरे वर्ष के लिए 5% है?

  1. 20000

  2. 20500

  3. 19750

  4. 18500
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Let principal = P. After 3 years with varying rates: P × 1.03 × 1.04 × 1.05 = 22214.01. So P = 22214.01/(1.03 × 1.04 × 1.05) = 22214.01/1.12464 = Rs.19750. The compound amount formula applies, but the rate changes each year - multiply the growth factors (1 + r) for each year.

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