Find the amount of ₹50000 after 2 years compounded annually, the rate of interest being 8% per annum during the first year and 9% per annum during 2nd year. Also find the compound interest
Answers
Answer:
Given \: Principal (P) = Rs\:50000GivenPrincipal(P)=Rs50000
Rate \:of \: interest \: for \: first \:year (r_{1})Rateofinterestforfirstyear(r
1
)
=8\% \: p.a\: --(1)=8%p.a−−(1)
Rate \:of \: interest \: for \: Second \:year (r_{2})RateofinterestforSecondyear(r
2
)
=9\% \: p.a\: --(2)=9%p.a−−(2)
Let \: the \: Amount \: after \: 2 \: years = ALettheAmountafter2years=A
A = P\Big( 1 + \frac{r_{1}}{100}\Big) \Big( 1 + \frac{r_{2}}{100}\Big)A=P(1+
100
r
1
)(1+
100
r
2
)
\implies A = 50000 \Big( 1 + \frac{8}{100}\Big)\Big( 1 + \frac{9}{100}\Big)⟹A=50000(1+
100
8
)(1+
100
9
)
\implies A = 50000 \Big( \frac{100+8}{100}\Big) \Big( \frac{100+9}{100}\Big)⟹A=50000(
100
100+8
)(
100
100+9
)
= 50000 \times \frac{108}{100} \times \frac{109}{100}=50000×
100
108
×
100
109
= 5 \times 108 \times 109=5×108×109
\therefore A = Rs\: 58860∴A=Rs58860
•••♪
Step-by-step explanation:
Find the amount of ₹50000 after 2 years compounded annually, the rate of interest being 8% per annum during the first year and 9% per annum during 2nd year. Also find the compound interest
