InterviewSolution
Saved Bookmarks
InterviewSolution
| 1. |
Find the amount and the compound interest on ₹ 6500 for 2 years, compounded annually, the rate of interest being 5% per annum during the first year and 6% per annum during the second year. |
|
Answer» P = ₹ 6500 R = 5% T = 1 years ∴ \(\frac{PTR}{100}\) = \(\frac{6500\,\times\,5\,\times1}{100}\) = 325 ∴ A = P + I = 6500 + 325 = 6825 ∴ P = 6825 (At the beginning of 2,id year A=P) R = 6% T = 1 year ∴ \(\frac{PTR}{100}\) = \(\frac{6825\,\times\,6\,\times1}{100}\) = 409.5 ∴ A = P + I = 6825 + 409.5 ∴ Amount = ₹ 7234.50 C.I. = A – P = ₹ 7234.50 – 6500 = ₹734.50 |
|