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The amount of 10000 after 2 years compound annually with the rate of interest being 10 %per annum during the first year and 12%per annum during the second year would be |
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Answer» Ok, let us start with 10% in the first year. Final Amount after 1 year = 10000 + 10000 * 10/100 = 10000 + 1000 = 11000 So, the return after 1 year will be 11000. Now 2ND year, final amount will be, = 11000 + 11000 * 12/100 = 11000 + 110 * 12 = 11000 + 1320 = 12,320 So, your final return after 2 years will be 12,320. Hope it helps you! Still have any doubts, feel free to ASK me. |
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