Find the amount on Rs. 16500 after 2 years if the rate of interest 8% for
the first year and 10% for the second year compounded annually.
Answers
Ans:- C.I for fist year at rate of 8% = (p × r × t)/100
= (16500 × 8 × 1)/100
= 165×8= ₹1320
Principal for second year = 16500+1320
= ₹17820
C.I for second year at rate of 10% = (p × r × t)/100
= (17820 × 10 × 1)/100
= ₹1782
Therefore amount after 2 years = 17820 + 1782
= ₹19602
hence amount is 19602 rupees
hope it will help you
Step-by-step explanation:
Amount after 1st year = P ( 1+R/100)^n
= ₹ 16500(1+ 8/100)¹
= ₹16500×108/100
= ₹ 17820
Now, P = ₹ 17820 Then, Amount after 2nd year = P ( 1+R/100)^n
= ₹17820(1+10/100)¹
= ₹17820× 110/100
= ₹19602
Hence, the amount for the second year is ₹19602