## Find the compound interest on rupees2000 for 2 years if the rate of interest is 5% for the first year and 10% for the second year each inte

Question

Find the compound interest on rupees2000 for 2 years if the rate of interest is 5% for the first year and 10% for the second year each interest begin compounded annually.​

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2 months 2022-02-28T23:57:12+00:00 2 Answers 0 views 0

1. FOR THE 1ST YEAR , P= RS.2000 R=5%

SO, I = P x R x T / 100

= 2100 x 5 x 1 / 100

= RS. 105

AMOUNT AFTER THE 2ND YEAR = RS. 2100+RS. 105

= RS. 2205

FINAL AMOUNT = RS. 2205

HENCE, COMPOUND INTEREST = FINAL AMOUNT – ORIGINAL AMOUNT

= RS. 2205 – RS. 2000

= RS. 205