Question

Find the amount and compound interest on rupees 2500 in 2 years if the rate are 5% and 6% for the successive years, Give the answer with the required steps please

Answer 1

Given that:

• Principal = 2500 rupees
• Time = 2 years
• Rate = 5% and 6% for the successive years

Need to find:

• Amount = ?
• Compound Interest = ?

Solution:

The formula for amount for successive rates of interest is:

${\qquad}{\bigstar{\boxed{\sf{a= p(1 + \frac{r1}{100})(1 + \frac{r2}{100})}}}}$

•According to the question —

$\sf \implies \: a = 2500(1 + \frac{5}{100})(1 + \frac{6}{100}) \\ \\ \sf \implies \: a = 2500(1 + \frac{1}{20})(1 + \frac{3}{50}) \\ \\ \sf \implies \: a = 25 \cancel0 \cancel0( \frac{21}{2 \cancel0})( \frac{53}{5 \cancel0}) \\ \\ \sf \implies \: a = \frac{25 \times 21 \times 53}{10} \\ \\ \sf \implies \: a = 2782.5 \: rupees$

Hence,Amount will be 2782.5 rupees.

Now,

${\quad}{\bigstar{\boxed{\sf{compound \: interest = amount - principal}}}}$

Substitute the values

$\sf \implies \: compound \: interest = 2782.5 - 2500 \\ \\ \sf \implies \: compound \: interest = 282.5 \: rupees$

Hence,Compound Interest is 282.5 rupees.

Answer 2

Step-by-step explanation:

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