Question

Calculate the amount due in 2 years on 1000, if the rates of compound interest for
successive years are 10% and 5% respectively.​

Answer 1

Answer:

1155

Step-by-step explanation:

t=2years

p=1000

r%=10%.5%

A=p*(1+r\100)*(1+r/100)

A=1000*(1+10/100)*(1+5/100)

10÷100=1\10..5÷100=1/20.Then,

A=1000*11/10*21*20

cut 10&20 with 1000you will get.

5then,5*21*11=1155