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Preeti Dabral 1 year, 6 months ago
The effective rate is the actual rate compounded annually. Therefore, the required sum S is given by
S = 12000 (1 + {tex}\frac{3}{100}{/tex})10 (1 + {tex}\frac{4}{100}{/tex})4 (1 + {tex}\frac{5}{100}{/tex})2
{tex}\Rightarrow{/tex} S = 12000 (1.03)10 (1.04)4 (1.05)2
{tex}\Rightarrow{/tex} S = 12000 (1.34391638) (1.16985856) (1.1025) = 20800.10
Hence, the amount is ₹20,800.10
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