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. ​

Answer 1

Answer:

For the 1st year

(45000×1×4)/100

= 1800

For the 2nd year

(45000×1×12)/100

=5400

Now adding the interest,

₹(1800+5400)

₹7200

Amount will be,

₹(45000+7200)

₹50400 (ans)