The compound interest on ₹ 2000 in 2 years if the rate

The compound interest on ₹ 2000 in 2 years if the rate of interest is 4% per annum for the first year and 3% per annum for the second year, will be

Given Here , R₁ = 4% , R₂ = 3% , P = ₹ 2000
Using formula ,

Amount = P		1 +	R₁			1 +	R₂
			100				100

Amount = 2000		1 +	4			1 +	3
			100				100

Amount = 2000 × 1.04 × 1.03 = ₹ 2142.40
∴ CI = Amount - Principal
∴ CI = ₹ (2142.40 – 2000) = ₹ 142.40