Find the amount of Rs 25,000 after 2 years compounded annually , the rate of interest being 8% per annum during the first year and 9% per annum during the second year
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this is the correct answer
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4,430
Step-by-step explanation:
A = P * [1 + r / 100]raised to the power T
A = 25,000 [1+8/100] [1+9/100]
A = 25,000 [1+2/25] [1+9/100]
A = 25,000 * 27/25 * 109/100
A = 10 * 27 * 109 (After Cancellation)
A = 29,430
Therefore,Compound Intrest = A - P
29,430 - 25,000 = 4,430
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