Find the amount of Rs 8000 for 2 years compounded annually and the rates being 9% per annum during the first year and 10% per annum during the second year.s

Answer

To find the amount of Rs 8000 for 2 years compounded annually with different interest rates for each year, we can follow these steps:

### Step-by-Step Solution:

1. **Identify the Principal Amount (P)**:
- The principal amount (P) is given as Rs 8000.

2. **Identify the Interest Rates for Each Year**:
- The interest rate for the first year (R1) is 9% per annum.
- The interest rate for the second year (R2) is 10% per annum.

3. **Calculate the Amount After the First Year**:
- The formula for compound interest is:
\[ A = P \left(1 + \frac{R}{100}\right)^n \]
- For the first year, we have:
\[ A_1 = 8000 \left(1 + \frac{9}{100}\right)^1 \]
- Simplifying this:
\[ A_1 = 8000 \left(1 + 0.09\right) = 8000 \times 1.09 = 8720 \]

4. **Calculate the Amount After the Second Year**:
- Now, we take the amount after the first year as the principal for the second year:
\[ A_2 = A_1 \left(1 + \frac{R2}{100}\right)^1 \]
- Substituting the values:
\[ A_2 = 8720 \left(1 + \frac{10}{100}\right) = 8720 \times 1.10 = 9592 \]

5. **Final Amount**:
- The final amount after 2 years is Rs 9592.

### Summary of the Calculation:
- Amount after Year 1: Rs 8720
- Amount after Year 2: Rs 9592

### Final Answer:
The amount after 2 years is **Rs 9592**.

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