Question

Calculate the amount and compound interest on Rs. 4600 in 2 years
when the rates of interest for successive years are 10% and 12% respectively.

Answer 1

C.I of 4600 for 2 year at rate of interest are 10% and 12%
Amount=4600×(1+
100
10
​
)(1+
100
12
​
)

⇒4600×
100
110
​
×
100
112
​


⇒5667.20Rs.

C.I.=5667.20−4600=1067.20Rs.

Answer 2

The compound interest earned on Rs. 4600 for 2 years at 10% and 12% interest rates is Rs. 1071.20.

And the final amount will be Rs. 5671.20.

To calculate the compound interest on Rs. 4600 for 2 years with interest rates of 10% and 12% for the first and second year respectively, we need to use the formula:

$A = P(1 + R/100)^n$

where,

A = the amount after n years

P = the principal (initial amount)

R = the rate of interest

n = the number of years

For the first year, the principal is Rs. 4600 and the rate of interest is 10%, so:

$A = 4600(1 + 10/100)^1$

= 5060

So, the amount after the first year is Rs. 5060.

For the second year, the principal is Rs. 5060 (the amount after the first year) and the rate of interest is 12%, so:

$A = 5060(1 + 12/100)^1$

= 5671.20

So, the amount after the second year is Rs. 5671.20.

Now, to calculate the compound interest earned over the 2-year period, we need to subtract the initial principal from the final amount:

CI = A - P

= 5671.20 - 4600

= Rs. 1071.20

Therefore, the compound interest earned on Rs. 4600 for 2 years at 10% and 12% interest rates is Rs. 1071.20. And the final amount will be Rs. 5671.20.

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