How much will Rs 50.000 amount to in 2 years, compounded yearly if the rates for the successive years are 10% and 12% respectively
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Step-by-step explanation:
Let the sum be x
Amount after 2 year=Rs.4928
Rate=10% and 12%
Time=2 years
Amount=P(1+
100
R
)
t
⇒4928=x(1+
100
10
)(1+
100
12
)
⇒4928=x×
100
110
×
100
112
⇒x=
110×112
4928×100×100
=Rs.4000
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