Question

If the rate of compound interst in first and second year be 5% and 6% then the interest then find the compound interest on 30,000 for 2 years.​

Answer 1

6300

P=Rs.30,000,T=2years and R=10%

⇒ A=P(1+

100

R ) T

⇒ A=30000×(1+

100

10 ) 2

⇒ A=30000× 1011 × 1011

∴ A=Rs.36300

⇒ C.I.=A−P=Rs.36300−Rs.30000=Rs.6300