Find the amount of Rs 12500 for 2 years compound annually, the rate of interest being 15% for the first year and 16% for the second year.

Explanation

To find the amount of Rs 12,500 after 2 years with compound interest, where the rate of interest is 15% for the first year and 16% for the second year, we can follow these steps:

### Step 1: Calculate the amount for the first year.
- **Principal (P)** = Rs 12,500
- **Rate of Interest (R)** = 15%
- **Time (N)** = 1 year

Using the formula for compound interest:
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