Question

11. Saritha invested 50,000 for 2 years, interest being
compounded annually. If the rate of interest is 8% and
10% respectively for 1st and 2nd years, then find the
interest earned by Saritha.
(1) 8,500
(2) 9,400
(3) 7,800
(4) 9,600​

Answer 1

Answer:9400

Step-by-step explanation:

1 ST YEAR, C.I + P = 50000*(1+8/100)^1

                              =50000*108/100

                             =54000

lN 2ND YEAR, P=54000

C.I + P = 54000*(1+10/100)^1

                              =54000*110/100

                             =59400

ie, lNTEREST= 59400-50000

                     =9400