find the amount of rupees 12500 for two years compounded annually the rate of interest being 15% for the first year and 16% for the second year​

Answers 1

Answer:

Amount after two years is Rs 16675.

Step-by-step explanation:

Given details are, Principal (p) = Rs 12500 Rate1 (r) = 15% and Rate2 = 16% Time (t) = 2 years By using the formula, A = P (1 + R1/100 × 1 + R2/100) = 12500 (1 + 15/100 × 1 + 16/100) = 12500 (1.15 × 1.16) = Rs 16675 ∴ Amount after two years is Rs 16675.Read more on Sarthaks.com

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