Question

Find the amount of Rs. 12,500 for 2 years compounded annually, the rate of interest being 15% for the first year and 16% for the second year​

Answer 1

Answer:

amount for first year = 1875

amount for second year = 2000

total amount for both year = 3875

Answer 2

Answer:

Amount = ₹ 3875/-

This process use only in Simple Interest method, not in compound interest

P = 12500, T = 2 Y,

R = 15% & 16 % , so common interest Rate = 15.5%,

SI. = P×T×R / 100

=> 12500×2×15.5 /100

=> A = ₹ 3875