What sum of money (in Rs.) at compound intere | vedclass

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(B) The formula for compound interest with varying rates is given by:$A = P \left(1 + \frac{R_1}{100}\right) \left(1 + \frac{R_2}{100}\right) \left(1

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$5000$

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(B) The formula for compound interest with varying rates is given by:$A = P \left(1 + \frac{R_1}{100}ight) \left(1 + \frac{R_2}{100}ight) \left(1 + \frac{R_3}{100}ight)$Given:$A = 5305.53$$R_1 = 1\%$,$R_2 = 2\%$,$R_3 = 3\%$Substituting the values:$5305.53 = P \left(1 + \frac{1}{100}ight) \left(1 + \frac{2}{100}ight) \left(1 + \frac{3}{100}ight)$$5305.53 = P 	imes (1.01) 	imes (1.02) 	imes (1.03)$$5305.53 = P 	imes 1.061106$Solving for $P$:$P = \frac{5305.53}{1.061106}$$P = 5000$Thus,the sum of money is $Rs. 5000$.

What sum of money (in $Rs.$) at compound interest will amount to $Rs. 5305.53$ in $3$ years,if the rate of interest is $1 \%$ for the first year,$2 \%$ for the second year,and $3 \%$ for the third year?

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