Find the amount and the compound interest on 2000 in 2 years if the rate is 4% for
the first year and 3% for the second year.
Answers
Answered by
1
Answer:
Step-by-step explanation:
Given, P= Rs. 2000, r
1
=4% p.a. for 1
st
year, r
2
=3% p.a. for 2
nd
year
∴A=P(1+
100
r
1
)(1+
100
r
2
)
=2000(1+
100
4
)(1+
100
3
)
= Rs. (2000×
25
26
×
100
103
)= Rs. 2142.40
∴ C.I. = Rs. 2142.40− Rs. 2000= Rs. 142.40
Answered by
6
Answer:
Amount=2142.40 and comppund interest=142.40
Step-by-step explanation:
let the amount(P)=2000
rate in 1st year(r)=4%
rate in 2nd year(r')=3%
so the amount will be=
P(1+r/100)(1+r'/100)
=2000(1+4/100)(1+3/100)
=2000×104/100×103/100
=2142.40
Compound interest will be=2142.40-2000=142.40
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