Question

if the rate of compound interest for the first year is 4% and 2nd year is 5% let us find the compound interest on Rs25000 for 2yrs​

Answer 1

I = Prt/100 P-principal r - rate of interest t- time interval
For 1st year
I=25,000x4x1/100
=250x4
=₹1000
For 2nd year
I=prt/100
=1000x5x1/100
=10x5
=₹50
=CI for 2 years
=₹1000+₹50
=₹1050