What sum will amount to rupees 2782.50 in 2 years at a compound interest,if the rates are 5 percent and 6 percent for the successive years

Asked by akahara.dubey_1620 | 21st Apr, 2019, 07:29: PM

Expert Answer:

According to the question,
 
A = Rs. 2782.50, r1 = rate of intrest for 1st year = 5% p. a. r2 = rate of interest for 2nd year = 6% p. a. 
2782.50 = P × 1.05 × 1.06 
P = Rs. 2500
Hence, Rs. 2500 will amount to Rs. 2782.50 in 2 years at a compound interest,if the rates are 5 percent and 6 percent for the successive years.

Answered by Sneha shidid | 22nd Apr, 2019, 09:40: AM