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If the rate of compound interest for the...

If the rate of compound interest for the first and second year are 5% and 6% respectively, then find the compound interest on Rs. 5000 for 2 years.

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The principal at the beginning `=Rs. 5000`
The rate fo the compound interest `=5%` period of time `=1` year
`:.` Amount after first year `=Rs. 5000(1+5/100)` ltbr. `=Rs. 5000(1+1/20)=Rs. 5000xx21/20=Rs. 5250`
`:.` Principal at the end of the second year `=Rs. 5250`
The rate of compound interest `=6%`
Period of time `=1` year
`:.` The amount after second year `=Rs. 5250 (1+6/100)`
`=Rs. 5250xx106/100=Rs. 5565`
`:.` Compound interest `=Rs.(5565-5000)`
`=Rs. 565`
`:.` The required compound interest of Rs. 5000 for 2 years is Rs. 565.
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