Question

calculate the amount due and the compound interest on rupees 40000 for 2 years when the rate of interest successive years is 7% and 8% respectively​

Answer 1

Answer:

Amount = 46224

Compound Interest = 6224

Step-by-step explanation:

A = P ( 1+ i1 ) ^ n1 ( 1 + i2) ^ n2

A = CI + P

A = Amount

P = Principal

i = rate of interest

n = number of years

CI = Compound interest

Given : P = 40000

i1 = 7% = 0.01

i2 = 8% = 0.08

n1 = 1yr

n2 = 2yrs

A = 40000 ( 1+ 0.07 ) ( 1+ 0.08)

= 40000 (1.07) (1.08)

Amount due = 46224

A = P + CI

CI = A - P

= 46224 - 40000

CI = 6224

Answer 2

Step-by-step explanation:

Hope you understand

thank u