Question

7. Find the amount of 8000 for 2 years compounded annually and the rates being 9% per
annum during the first year and 10% per annum during the second year.​

Answer 1

Answer:

1592

Step-by-step explanation:

first year compound interest 720. second year compound interest 872

Answer 2

Answer:

Present value= ₹ 8000

Interest rate for first year, p= 9 % per annum Interest rate for second year, q= 10 % per annum Amount (A) = P × (1+p/100) × (1+q/100)

Now substituting the values in above formula we get,

∴ A = 8000 × (1+9/100) × (1+10/100)

⇒ A = 8000 × (109/100) × (11/10)

⇒ A = 8 × 109 × 11

⇒ A = ₹ 9592

Therefore, the amount is 9592/-