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      Question

      What will be the amount if a sum of Rs. 5500 is placed

      at compound interest for 3 years while the rate of interest for the first, second and third years is 4%, 5% and 6% respectively?
      A Rs. 6527.28 Correct Answer Incorrect Answer
      B Rs. 6873.32 Correct Answer Incorrect Answer
      C Rs. 6366.36 Correct Answer Incorrect Answer
      D Rs. 6748.56 Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      Amount = P [1 + (r1/100)] [(1 + r2/100)] [(1 + r3/100)] Amount = 5500 × (104/100) × (105/100) × (106/100) => Rs. 6366.36

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