Question

If u answer this question correctly I will mark as brainliest. Find the compound interest for 2 years if the rate is 15% for first year and 16% for second year at principal 12500

Answer 1

Hey mate...

here is your answer

Here, P = $12500, p = 15 % p.a. and q = 16 % p.a.

Using the formula A = {P × (1 + P/100) × (1 + q/100)}

amount after 2 years = $ {12500 × (1 + 15/100) × (1 + 16/100)}

= $ (12500 × 23/20 × 29/25)

=$ 16675

Thus, amount after 2 years = $ 16675

And, compound interest = $ (16675 – 12500)

Therefore, compound interest = $ 4175.

hope it helps you!!!

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