Calculate the amount, if Rs. 15,000 is lent at compound interest for 2 years and the rates for the successive years are 8% p.a. and 10% p.a. respectively.

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Solution

$A = P (1 + \frac{r_{1}}{100}) \times (1 + \frac{r_{2}}{100})$

$= 15000 (1 + \frac{8}{100}) \times (1 + \frac{10}{100})$

$= R s 17820$

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Calculate the amount, if Rs. 15,000 is lent at compound interest for 2 years and the rates for the successive years are 8% p.a. and 10% p.a. respectively.

A=P(1+r1100)×(1+r2100) =15000(1+8100)×(1+10100) =Rs17820

$A = P (1 + \frac{r_{1}}{100}) \times (1 + \frac{r_{2}}{100})$

$= 15000 (1 + \frac{8}{100}) \times (1 + \frac{10}{100})$

$= R s 17820$