Question

Find the amount and the compound interest on 6500 for 2 years, compounded annually,
the rate of interest being 5% per annum during the first year and 6% per annum during the
second year.​

Answer 1

Step-by-step explanation:

$a = p(1 + \frac{r}{100}) {}^{t}$

Principle = 6500.

Time = 2 years.

Rate = 5 percent and 6 percent.

$a= 6500(1 + \frac{5}{100}) \times (1 + \frac{6}{100})$

$a= 6500 \times \frac{21}{20} \times \frac{53}{50}$

Amount = 7234.5

Now, CI = 7234.5 - 6500

CI = 734.5

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Answer 2

SOLUTION:-

Given:

Principal (P) for 1st year = Rs.6500

Rate of interest(R) for 1st year = 5%

So,

Interest on 1st year:

$= > 5 \% \: of \: 6500 \\ \\ = > \frac{5}{100} \times 6500 \\ \\ = > </u><u>R</u><u>s.325$

Therefore,

Interest for 1st year= Rs.325

Principal (P) for 2nd year;

=) Principal1st year + Interest 1st year

=) Rs. 6500 + Rs.325

=) Rs. 6825

Rate of interest for 2nd year:

$= > 6\% \: of \: 6825 \\ \\ = > \frac{6}{100} \times 6825 \\ \\ = >Rs. 409.5$

Therefore,

Interest for 2nd year = Rs.409.5

Total Interest= (325 + 409.5)Rs.

=) Rs.734.5

Amount at 2nd year:

Principal for 2nd + Interest for 2nd year

=) Rs.6825 + Rs.409.5

=) Rs.7234.5

Therefore,

Amount at second year= Rs.7234.5

And,

Compound Interest:

CI = A-P

=) Rs.(7234.5 - 6500)

=) Rs.734.5

Hope it helps ☺️