Question

calculate the amount and the compound interest on 5000 in 2 years find the rate of interest for successive years in 6% and 8% respectively please explain it​

Answer 1

Answer:

principal=5000.

time=2years.

interest=6%in the first year.

so, Amount=p(1+r/100)power n

=5000(1+6/100)power 1

=5000*106/100

=53000

in the second year interest =8%

so, 53000(1+8/100) power 1

=53000*108/100

=57240.

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