Question

find amount of 8 thousand for 2 years compounded annually and the rate being 9% per annum during the first year and 10% per annum during the second year​

Answer 1

Answer:

first year

principal = ₹80000. time = 2years

rate of interest = 9%

S.I = P×R×T/100

= 80000×2×9/100

S.I = ₹14400

Amount = P+S.I

= 80000+14400

Amount = ₹94400 of first year

Second year

principal = ₹80000

time = 2years

rate of interest = 10%

S.I = P×R×T/100

= 80000×2×10/100

S.I = ₹16000

Amount = P+S.I

= 80000+16000

Amount =₹96000 of second year

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Answer 2

Answer:

Rate of interest for the first year = 9% p.a. Rate of interest for the second year = 10% p.a. Hence, Amount would be Rs. 9592 for 2 years

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