Question

calculate the compound interest on rupees 5000 in 2 years if the rate of interest of successive years 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