How much will Rs.50,000 amount to in 3 years compounded yearly, the rates the successive years are 6%, 8% and 10% respectively. (2024)

Interest for the first year $$= \dfrac{P \times R \times T}{100}$$
$$= \dfrac{50,000 \times 6 \times 1}{100}$$
$$=$$ Rs.$$3,000$$
Amount for the first year = Rs.50,000 + Rs. 3,000 = Rs. 53,000
Interest for the second year $$= \dfrac{P \times R \times T}{100}$$
$$= \dfrac{53,000 \times 8 \times 1}{100}$$
$$=$$ Rs.$$4,240$$
Amount for the second year = Rs.53,000 + Rs. 4,240 = Rs. 57,240
Interest for the third year $$= \dfrac{P \times R \times T}{100}$$
$$= \dfrac{57,240 \times 10 \times 1}{100}$$
$$=$$ Rs.$$5,724$$
Amount for the third year = Rs.57,240 + Rs. 5,724 = Rs. 62,964
Hence, the amount will be Rs.62,964.