Question

what sum will amount to Rs 6,593.40 in 2 years at compound interest if the rates 10% and 11% for the 2 successive years

Answer 1

let principal be p

a=p(1+r1%)(1+r2%)

6,593.40=p(2)(11/10)

(6593.40*100)/2*11

6,59,340/22

299,70