Q.20. How much will Rs.20.000, amount to in 2 years at Clif the rates for
successive years are 8% and 10% p.a. respectively?
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If the rate of interest for 2 years are different then, the amount is given by
A = P(1+r11000)(1+r2100)=20000×(1+10100)×(1+8100)P(1+r11000)(1+r2100)=20000×(1+10100)×(1+8100) = Rs.23,760.
Thus, even if the rates for the successive years had been 10% and 8%, it would not have affected the amount at the end of two years.
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