Question
The rate of interest in a scheme, working on the principle of compound interest, increases by 1% per annum every year. For first year,
The rate of interest in a scheme, working on the principle of compound interest, increases by 1% per annum every year. For first year, the rate of interest is 14% per annum. A sum of Rs. 10,00,000 is invested in this scheme for 3 years. Find the amount of interest that will be generated in total. 1. Rs. 500000 2. Rs. 520760 3. Rs. 530940 4. Rs. 540670 5. Rs. 550000
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Statistics For Business Decision Making And Analysis
Authors: Robert Stine, Dean Foster
2nd Edition
978-0321836519, 321836510, 978-0321890269
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