Question

Find the amount of Rs.45000 after 2 years, compounded annually, the rate of interest being 4% p.a. during first year and 12% p.a during
second year.
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Answer 1

Answer:

52200

Step-by-step explanation:

first year=4%=4/100

4/100*45000=1800

second year=12%=12/100

12/100*45000=5400

45000+first year+second year

45000+1800+5400=52200