Question

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.​

Answer 1

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