Question
The compound interest of ₹6,000 in two years, if the
rate of interest is 2.5% per annum for the first year and 2% per annum for the second year, will be:Solution
Rate of CI for 2 years =2.5+2+(2.5×2)/100 =4.5+0.05 =4.55% CI =6000×4.55/100 =6000×455/10000 =273 Rs.
Law of diminishing returns only applies to cases where
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