Find the amount and the compound interest on rupees 6500 for 2years compounded annually the rate of interest being 5% per annum during the first year and 6% per annum during the second year
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A=6500 (1+5/100)(1+6/100)
A=6500 (1+0.05)(1+0.06)
A=6500×1.05×1.06
A=7234.5
compound interest=7234.5-6500=734.5
A=6500 (1+0.05)(1+0.06)
A=6500×1.05×1.06
A=7234.5
compound interest=7234.5-6500=734.5
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