Question

calculate the amount and the compound interest on rupees 5000 in 2 years and the rate of interest for two successive years at 6% and 8% effectively​

Answer 1

for the 1st year

S.I = P×R×T/100

S.I = 5000×6×1/100

S.I = 50×6×1

S.I = 300

A = P + S.I

A = 5000+300

A = 5300

for the 2nd year

S.I = P×R×T/100

S.I = 5300×8×1/100

S.I = 53×8×1

S.I = 424

A = P×S.I

A = 5300+424

A = 5624

C.I =A-P

C.I = 5624-5000

C.I = 624