8. Meenal lends * 75,000 at C.I. for 3 years. If
the rate of interest for the first two years is
15% per year and for the third year it is 16%,
calculate the sum Meenal will get at the end
of the third year.
Share
8. Meenal lends * 75,000 at C.I. for 3 years. If
the rate of interest for the first two years is
15% per year and for the third year it is 16%,
calculate the sum Meenal will get at the end
of the third year.
Sign Up to our social questions and Answers Engine to ask questions, answer people’s questions, and connect with other people.
Login to our social questions & Answers Engine to ask questions answer people’s questions & connect with other people.
Answer:
75000×(1+15/100)^2×(1+16/100)
=75000×1.15×1.15×1.16
=115057.50 Ans