calculate the amount and the compound interest on rupees 7500 for 2 years the rate of interest being 10% for first year and 12% for second year..
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The total amount is Rs. 9240
The interest is Rs. 1740
Step-by-step explanation:
Given the Principal = 7500
We know that A = P [ ]
where A is the amount
R₁ = Rate of interest for first year
R₂ = Rate of interest for second year
Therefore, on substitution, we get
A = P [ ]
= 7500 [ ]
= 7500 [ ]
= 7500 [ ]
= 9240
Therefore, the total amount is Rs. 9240
We know that Amount = Interest + Principal
=> 9240 = Interest + 7500
=> interest = 1740
Therefore, the interest is Rs. 1740
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