Question

Find the amount and the compound interest on 2500 for 2 years,compounded annually, the rate
of interest being 6% during the first year and 8% during the second year,​

Answer 1

Answer:

Answer is C I.= 362, Amount = 2862

Step-by-step explanation:

Principal= 2500

Time = 2years

Rate of first year = 6%

Amount= P (1+r) ^ t

= 2500* (1+6/100) ^t * (1+8/100)^t ( because we have different rates )

= 2500* 106/100* 108/100

= 2862

Compound interest= Amount- principal

2862- 2500

= 362

Therefore, the CI is rupees 362 And the amount is rupees 2862