Find the amount of Rs 12000 after 2 years compounded annually the rate of interest being 5 % pa during the first year and 6% pa during the second year also find the compound interest?
A
Rs 1356
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B
Rs 1200
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C
Rs 1256
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D
Rs None of these
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Solution
The correct option is B Rs 1356 P=Rs.12000,Time=2 Years,Rate=5% and 6% A=P(1+R100)T ⇒12000(1+5100)(1+6100) ⇒12000×105100×106100 ⇒13356Rs C.I=A−P ⇒13356−12000=1356Rs.