Question

claculate the amount and the compound interest on rs5000 in 2 yrs when the rate of interest for successive years is 6% and 8% respectively

Answer 1

Here P= Rs 5000
T=2 yrs
R1= 6
R2= 8

A=
$5000(1 + 6 \div 100) \times (1 + 8 \div 100)$
= 5000(106/100)(108/100)
=5000x1.06x1.08
=5724

A= Rs 5724
CI= A-P
5724-5000
=Rs724.

Hope my answer would help you.