Question

1. Calculate the amount and the compound interest on Rs
60000 in 2 years when the rate of interest for successive
years is 8% and 10% respectively
​

Answer 1

$\dag\:\:\underline{\sf Question:- }$

Calculate the amount and the compound interest on Rs

. 60000 in 2 years when the rate of interest for successive  years is 8% and 10% respectively.

$\dag\:\:\underline{\sf Answer:- }$

$Given:- \left[\begin{array}{ccc}Principal = Rs. 60000\\Time =2 years\\Rate \: of \: interest (in \: percent) \: = 8 \: and \: 10 \: respectively\end{array}\right]$

$To \: find:- \left \{ {{Amount} \atop {Compound \: Interest}} \right.$

Let 'r₁' be the rate of interest for the first year.

Let 'r₂' be the rate of interest for the second year.

Amount = Principal (1 + \frac{r₁}{100})(1 + \frac{r₂}{100})

             = 60000 $(1 + \frac{6}{100})(1 + \frac{8}{100})$

             = 60000 $(1.06)(\frac{27}{25})$

             = Rs. 68688

• Hence, the Amount is Rs. 68688

      ______________________________

Compound Interest = Amount - Principal

                                = 68688 - 60000

                                = Rs. 8688

• Hence, the Compound Interest is Rs. 8688

Hope this helps! ♡

Answer 2

Answer:

\dag\:\:\underline{\sf Question:- }†

Question:−

Calculate the amount and the compound interest on Rs

. 60000 in 2 years when the rate of interest for successive years is 8% and 10% respectively.

\dag\:\:\underline{\sf Answer:- }†

Answer:−

\begin{gathered}Given:- \left[\begin{array}{ccc}Principal = Rs. 60000\\Time =2 years\\Rate \: of \: interest (in \: percent) \: = 8 \: and \: 10 \: respectively\end{array}\right]\end{gathered}

Given:−

⎣

⎢

⎡

Principal=Rs.60000

Time=2years

Rateofinterest(inpercent)=8and10respectively

⎦

⎥

⎤

To \: find:- \left \{ {{Amount} \atop {Compound \: Interest}} \right.Tofind:−{

CompoundInterest

Amount

Let 'r₁' be the rate of interest for the first year.

Let 'r₂' be the rate of interest for the second year.

Amount = Principal (1 + \frac{r₁}{100})(1 + \frac{r₂}{100})

= 60000 (1 + \frac{6}{100})(1 + \frac{8}{100})(1+

100

6

)(1+

100

8

)

= 60000 (1.06)(\frac{27}{25})(1.06)(

25

27

)

= Rs. 68688

Hence, the Amount is Rs. 68688

______________________________

Compound Interest = Amount - Principal

= 68688 - 60000

= Rs. 8688

Hence, the Compound Interest is Rs. 8688

Hope this helps! ♡