An NGO wants to invest rs 300000 in a bond which pays 5% annual interest first year, 6% interest second year, seven percent interest in the third year and so on. The interedt received per year is to be utilized for the education of the people . If the investment is done for 10 yeard. Find the total interest recieved by the ngo

Dear Student,


Apply simple interest formula SI=PRT100interest in first year=300000×5×1100=3000×5interest in second year=3000×6third year=3000×7and so onSo total interest=3000×5+6+7+8+9+10+11+12+13+14this is an AP first term =5 and common difference =1sum of 10 terms of AP 5+6+7+8+9+10+11+12+13+14=102×5+14=19×5=95Hence total interest earned=95×3000=285000Hence rupees 285000 is earned as interest in 10 years
Regards,

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