Find the compound interest on ₹5,000 for 2 years if the rate is 10% for the first year and 20% for the second year.

Problem Statement

Explanation

Apply successive growth factors. Multiply by one point one then by one point two. Amount equals six thousand six hundred, so interest is one thousand six hundred.

Code Solution

SolutionRead Only

A = 5000×1.10×1.20 = 6600 ⇒ CI = 6600−5000 = 1600

Practice Sets

This question appears in the following practice sets:

Simple & Compound Interest

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Find the compound interest on ₹5,000 for 2 years if the rate is 10% for the first year and 20% for the second year.

Problem Statement

Explanation

Code Solution

Practice Sets

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Find the compound interest on ₹5,000 for 2 years if the rate is 10% for the first year and 20% for the second year.

Problem Statement

Explanation

Code Solution

Practice Sets

Related Questions

What is the sum of first 50 natural numbers?

Find the HCF of 12 and 18.

Find the LCM of 12 and 18.

Simplify: 25 + 15 × 3 - 10 ÷ 2

A number when divided by 5 leaves remainder 3. What will be the remainder when the square of this number is divided by 5?

More from Aptitude & Reasoning

Master Interviews
Anywhere, Anytime