Question

Principal = Rs 8000, time = 2 years and the rates being 9% per annum during the first year and 10% per annum during the second year.find the amount ​

Answer 1

${\underline{\boxed{\sf\green{Given}}}}$

Present Value P = Rs 8000

Interest Rate of first year p, = 9% per annum

Interest Rate of second year, q = 10% per annum

Time = 2 years

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${\underline{\boxed{\sf\green{Find}}}}$

---The Amount = ?

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${\underline{\boxed{\sf\green{Solution}}}}$

So, Amount Can be calculated using :

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${\underline{\underline{\boxed{\sf\red{Amount (A) \: = p \times (1 + \frac{p}{100} ) \times( 1 + \frac{q}{100} )}}}}}$

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Now Substituting the values in above formula

we get,

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⠀⠀⠀$\sf{A =8000(1 + \frac{9}{100})(1 + \frac{10}{100} ) }$

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⠀⠀⠀$\sf{A =8000(1 + 0.09)(1 + 0.1 ) }$

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⠀⠀⠀$\sf{A =8000(1.09)(1.1 ) }$

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⠀⠀⠀⠀⠀⠀⠀${\boxed{\sf\pink{A= 9592}}}$

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☘︎ Hence, Amount Would be Rs.9592 for 2 years.

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