Question

how much will Rs. 12000 amount to in 2 years at compound interest ,if the rate of interest for the successive years being 10% and 11% respectively

Answer 1

Answer:

Rs. 14652

Step-by-step explanation:

For the first year:--

P=12000

R=10%

T=1

I=(P*R*T)/100

=(12000*10*1)/100

=1200.

Amt= P+I

=12000+1200

=13200.

For the next year:--

The amount of year1 will now be the principal amount.

P'=13200

R'=11%

T'=1

I=(13200*11*1)/100

=1452

Amt'=P'+I'

=13200+1452

= 14652.

This is the final amount too.

Answer 2

Answer:Amount=14652

Step-by-step explanation: