Find the amount of Rs. 12500 for 2 years compounded annually, the rate of interest being $15 %$ for the first year and $16 %$ for the second year.

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Solution

Principal (P) = Rs. 12500

Rate (R_1) $= 15 %$ p.a for first year.

$R_{2} = 16 %$ p.a for second year

Period = 2 years.

$∴$ Amount $= P (1 + \frac{R_{1}}{100}) (1 + \frac{R_{2}}{100})$

$= R s . 12500 (1 + \frac{15}{100}) (1 + \frac{16}{100})$

$= R s . 12500 \times \frac{115}{100} \times \frac{116}{100} = R s . 16675$

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Find the amount of Rs. 12500 for 2 years compounded annually, the rate of interest being 15% for the first year and 16% for the second year.

Principal (P) = Rs. 12500 Rate (R_1) =15% p.a for first year. R2=16% p.a for second year Period = 2 years. ∴ Amount =P(1+R1100)(1+R2100) =Rs.12500(1+15100)(1+16100) =Rs.12500×115100×116100=Rs.16675

Find the amount of Rs. 12500 for 2 years compounded annually, the rate of interest being $15 %$ for the first year and $16 %$ for the second year.