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The amount on Rs. 25000 in 2 years at annually compound interest. if the rates for the successive years be 4% and 5% per annum respectively is:
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Explanation:
With smart approach
Principal Amt.=Rs. 25000
Time = 2 years
R1 = 4 %, R2 = 5 % Annually
4
So amount will be Rs. 27300 after 2 years