Question

Calculate the compound interest on rs5000 in 2 years; if the rates of interest be 10% and 12% respectively

Answer 1

Answer:

As we know the formula for amount for two given rates is = P(1+R1/100)(1+R2/100)

So, Amount= 5000×(1+10/100)(1+12/100)

=5000×110/100×112/100

=₹6160

Compound Interest= Amount - Principal

=₹6160-₹5000

=₹1160

Step-by-step explanation:

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Answer 2

Answer:

6160 is the answer of the question

hope it helps

Also compound interest =6160-5000

=1160