Question

what sum will amount to rupees 2782.50 in 2 years at compound interest if the rates are 5% and 6% for the successive years

Answer 1

Answer:

amount =2782.50 (1+5/100)^1 (1+6/100)^1

amount=2782.50×21/20×53/50

=139.125×21×53/50

=3096.9225