By using the formula, find the amount and compound interest on:

Find the amount of Rs 8000 for 2 years compounded annually and the rates being $9 %$ per annum during the first year and $10 %$ per annum during the second year.

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Solution

$Principal (P) = Rs. 8000 Period (n) = 2 years Rate (R_{1}) = 9 % for the first year R_{2} = 10 % the second year ∴ Amount (A) = P {(1 + \frac{R_{1}}{100})}^{1} {(1 + \frac{R_{2}}{100})}^{1} = 8000 (1 + \frac{9}{100}) (1 + \frac{10}{100}) = R s . 8000 \times \frac{109}{100} \times \frac{110}{100} = R s . 9592$

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By using the formula, find the amount and compound interest on: Find the amount of Rs 8000 for 2 years compounded annually and the rates being 9% per annum during the first year and 10% per annum during the second year.

Principal (P) = Rs. 8000Period (n) = 2 yearsRate (R1)=9% for the first yearR2=10% the second year∴ Amount (A)= P (1+R1100)1(1+R2100)1=8000 (1+9100) (1+10100)=Rs. 8000×109100×110100=Rs. 9592

By using the formula, find the amount and compound interest on:

Find the amount of Rs 8000 for 2 years compounded annually and the rates being $9 %$ per annum during the first year and $10 %$ per annum during the second year.