Question
Download Solution PDFIf the rate of simple interest in consecutive years is 4% and 5% respectively, then what will be the total amount payable on Rs. 25,000 in 2 years?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven
Principal = 25000
Rate = 4% and 5%
Formula used
SI = PRT/100
Calculation
The SI for the first year:
⇒ (25000 × 4 × 1)/100
⇒ 1000
The SI for the Second year:
⇒ (25000 × 5 × 1)/100
⇒ 1250
Total Amount = 25000 + 1000 + 1250 = 27250
The answer is Rs. 27,250
Last updated on Jun 26, 2025
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