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Shyam wants to deposit Rs. 5000 for three years. The compound interest rate received for these years would be 3%, 2% and 1% respectively then find the amount he will received at the end.


1. Rs 5200
2. Rs 5305.5
3. Rs 5000
4. Rs 5100
5. None of these

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Best answer
Correct Answer - Option 2 : Rs 5305.5

Given:

Principal amount(P) = 5000,

Rate of Interest : r= 3%, r= 2%, r3 = 1%

Formula:

Amount = P ( 1+ r1/100) (1+ r2/100) (1+ r3/100)

Calculation:

Amount = 5000 (1 + 3/100) (1 + 2/100) (1+ 1/100)

⇒5000(103/100) (102/100) (101/100)

⇒ 5,305.5

∴ Amount received is Rs. 5,305.5

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