Question

Find the amount on Rs. 14,000 for 2 years compounded annually, if the rate of interest is 20% p.a.
for the first year and 10% p.a. for the second year?​

Answer 1

Answer:

18480

Step-by-step explanation:

Given,

Find the amount on Rs. 14,000 for 2 years compounded annually, if the rate of interest is 20% p.a.  for the first year and 10% p.a. for the second year?​

for first year:

20%of 14000=2800

total amount is 14000+2800=16800

for 2nd year:

10%of 16800=1680

total amount is 16800+1680=18480