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

Answer:

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Answer 2

Step-by-step explanation:

amount at end of first year:

6500{1+5/(100)}

=6500×105/100

=65×105

=6825

amount of interest of first year:

=6825-6500

=325

amount at the end of second year:

6825{1+(6/100)}

=6825×(106/100)

=273×106/4

= 273×53/2

=7234.5

amount of interest of second year

=7234.5-6825

=409.5