Question

compound interest calculator the amount if rupees 15,000 is lent at compound interest for 2 years and the rate for successive years are 8% and 10% success respectively​

Answer 1

So, here is your answer.

Answer 2

Given:

P = ₹15,000

n = 2 years

r1 = 8%

r2 = 10%

We know that:

Amount = P(1 + r1/100)(1 + r2/100)

Solution:

Amount = P(1 + r1/100)(1 + r2/100)

= 15000(1 + 8/100)(1 + 10/100)

= 15000(27/25)(11/10)

= ₹17,820

Answer:

Therefore, the amount after 2 years is ₹17,820