#### Calculate the amount and the compound interest on ₹ 17000 in 3 years when the rate of interest for successive years is 10%, 10% and 14%, respectively.

**Solution:**

It is given that

Principal = ₹ 17000

Period = 3 years

Rate of interest for 3 successive years = 10%, 10% and 14%

We know that

Amount after 3 years = P (1 + r/100)^{n}

Substituting the values

= 17000 (1 + 10/100) (1 + 10/100) (1 + 14/100)

By further calculation

= 17000 × 11/10 × 11/10 × 57/50

= ₹ 23449.80

Here

Amount of compound interest = A – P

Substituting the values

= 23449.80 – 17000

= ₹ 6449.80

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