Question

Find the amount of rs 12500 for 2 years compounded annually, the rate of interest being 15% for the first year and 16% for the second year.

Answer 1

Answer:

A = Rs.16,675

Step-by-step explanation:

Given,

P = Rs.12,500

R1 = 15%

R2 = 16%

Amount after two years, A = P(1+R1/100)(1+R2/100)

                                            = 12500(1+15/100)(1+16/100)

                                            = 12500(1.15)(1.16)

                                            = Rs.16,675

Thus, required amount is Rs.16,675

           

Answer 2

Answer:

amont in two year will be ₹16675