Question

calculate the amount you will receive if you invest Rs 5000 for 2 years with an annual intrest rate of 5 %

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Answer 1

Answer:

ANSWER

1  st

year

Principal, P=Rs.5000

Time, T=1 year

Rate of interest ,R=6%

∴simple Interest, SI=  

100

PTR

​  

=  

100

5000×10×6

​  

=Rs.300

∴Amount=P+SI=Rs.5300

2nd year

Principal = Amount of 1st year=Rs.5300

Rate of interest =8%

Time =1 year

∴ Interest =  

100

5300×1×8

​  

=Rs.424

∴ Amount =Rs.(5300+424)=Rs.5724

The interest of 2nd year is the required compound interest. So, C.I=rs.424 and the required amount is Rs.5724

Step-by-step explanation:

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