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Question
Calculate the amount and the compouncl interest of the following:
Rs 9,125 for 2 years if tl1e rates of interest are 12% and 14 % for the successive years.
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Solution
P=Rs 9,125 ; t = 2 years ; r = 12% and 14% successively.
`"A" = "P" (1 + "r"/100)^"n"`
A = Rs `9125 (1 + 12/100) (1 +14/100)`
= Rs 9, 125 x 1.12 x 1.14
= Rs 11,650.80
C.l. = A - P
= Rs (11,650.80 - 9,125)
= Rs 2,525.80
Hence, Amount= Rs 11,650.80 and C.I. =Rs 2,525.80
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