Question

What sum of money will amount to rupees 5724 in 2 years of to Compound Interest rates or 6% to 8% for successive years?

Please tell me answer.​

Answer 1

Answer:

please make me brain list

Step-by-step explanation:

Principal for the first year = Rs 5000

Rate of interest = 6% p.a.

Interest for the first year = Rs (5000 × 6 × 1) / 100

= Rs 50 × 6

= Rs 300

Amount at the end of first year = Rs 5000 + Rs 300

= Rs 5300

Principal for the second year = Rs 5300

Rate of interest = 8% p.a.

Interest for the second year = Rs (5300 × 8 × 1) / 100

= Rs 53 × 8

We get,

= Rs 424

Amount for the second year = Rs 5300 + Rs 424

= Rs 5724

Compound interest for two years = Final amount – (original) Principal

= Rs 5724 – Rs 5000

We get,

= Rs 724