Mathematics
Find the amount on ₹ 36,000 after 2 years, compounded annually, the rate of interest being 10% for the first year and 12% for the second year.
Compound Interest
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Answer
P = ₹ 36,000, R1 = 10 %, R2 = 12 %, T = 2 year
A = P
= ₹ 36,000
= ₹ 36,000
= ₹ 36,000 x 1.1 x 1.12
= ₹ 44,352
Hence, the amount at the end of second year = ₹ 44,352.
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