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in Compound Interest by (51.8k points)
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Awasthy deposited Rs. 10,000 in a bank where compound interest is calculated at the rate of 10%. Rs.5000 was deposited in the beginning of the 2nd year and Rs.5000 in the beginning of the 3rd year. How much amount she gets after 3 years?

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Amount deposited in the first year = Rs. 10,000

rate of interest = 10%

Amount at the end of first year

= 10000 + [10000 × \(\frac{10}{100}\)] = 10000 + 1000 = Rs. 11000

Principal’ for the 2nd year

= 11000 + 5000 = Rs. 16000

Amount at the end of the 2nd year

= 16000 + [16000 × \(\frac{10}{100}\)] = 16000 + 1600 = Rs. 17600

Principal for the 3rd year

= 17600 + 5000 = Rs. 22600

Amount at the end of 3rd year

= 22600 + [22600 × \(\frac{10}{100}\)] = 22600 + 2260 = Rs. 24860

Amount Awasthy will get at the end of 3rd

year = Rs. 24860

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