How much will rupees 25000 amount to in 2 years, at compound interest, if the rates for the successive years are 4% and 5% per year
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The amount on Rs. 25,000 in 2 years at annual compound interest, if the rates for the successive years be 4% and 5% per annum respectively is: (1) Rs. 30,000 (2) Rs. 26,800 fa) Rs.
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Answer:
Here a is the rate of interest for the first year and b is the rate for the second year
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