Compound Interest Different Rates
Compound Interest Different Rates
Calculation of Compound Interest when Interest is Compounded Annually but Rates being Different for Different Years:
Illustration: Find the amount after two years compounded annually when rate of interest for first year is 5% and 15% for the next year when the principal is Rs. 4000.
Solution:
Find the amount on Rs. 12,500 for 2 years compounded annually, the rate of interest being 15% for the first year and 16% for the second year. | |||
| Right Option : C | |||
| View Explanation | |||
Roger bought a refrigerator for $ 4000 on credit. The rate of interest for the first year is 5% and of the second year is 15%. How much will it cost him if he pays the amount after two years ? | |||
| Right Option : B | |||
| View Explanation | |||
Find the amount after two years compounded annually when rate of interest for first year is 5 % and 10 % for the next year when the principal is Rs 3000. | |||
| Right Option : B | |||
| View Explanation | |||
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