Question

find the compound interest on 6000 for 1 year if the rates of interest for the first and second years are 5 percent and 10 percent per annum respectively​

Answer 1

Present value = Rs.6000

Interest rate = 10 % per annum

Time = 1 years

∵ Interest is compounded half-yearly.

∴ Amount (A) = P [1 + (R/2)/100]2n [Where, P = Present value

R = Annual interest rate

n = Time in years]

∴ A = 6000 [1 + (10/2)/100]2

⇒ A = 6000 [1 + 5/100]2

⇒ A = 6000 [1 + 1/20]2

⇒ A = 6000 [21/20]2

⇒ A = 6000 × 21/20 × 21/20

⇒ A = 300 × 21 × 21/20

⇒ A = 15 × 21 × 21

⇒ A = 6615

∴ Amount = Rs.6615

∴ Compound interest = Rs.(6615 – 6000)

= Rs.615

MARK AS BRAINLIEST

Answer 2

Answer:

615

Step-by-step explanation:

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