Calculate the compound interest on Rs 4600 for 2 yrs if the rate of interest of sucessive years are 10% p.a. and 12 % p.a. respectively
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Answer:
Step-by-step explanation:
C.I of 4600 for 2 year at rate of interest are 10% and 12%
Amount=4600×(1+
100
10
)(1+
100
12
)
⇒4600×
100
110
×
100
112
⇒5667.20Rs.
C.I.=5667.20−4600=1067.20Rs.
Hope this helps and makes sense!
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