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Jay borrowed ₹63,360 for 2 years. What will be the Compound Interest, if the interest for the first year is 30% and 50% for the second year?
Question



Jay borrowed ₹63,360 for 2 years. What will be the Compound Interest, if the interest for the first year is 30% and 50% for the second year?

A.

₹63,000

B.

₹60,186

C.

₹58,360

D.

₹60,192

Correct option is D

Given:Principal (P) = ₹63,360Interest for the first year = 30%Interest for the second year = 50%Formula for compound interest:A=P(1+r100)tStep 1: Calculate amount after the first year:A1=63,360×(1+30100)=63,360×1.30=82,368Step 2: Calculate amount after the second year:A2=82,368×(1+50100)=82,368×1.50=123,552Compound Interest=A2P=123,55263,360=60,192Therefore, the Compound Interest is 60,192.\text{Given:} \\\text{Principal (P) = ₹63,360} \\\text{Interest for the first year = 30\%} \\\text{Interest for the second year = 50\%} \\[6pt]\text{Formula for compound interest:} \\A = P \left(1 + \frac{r}{100}\right)^t \\[6pt]\text{Step 1: Calculate amount after the first year:} \\A_1 = 63,360 \times \left(1 + \frac{30}{100}\right) = 63,360 \times 1.30 = 82,368 \\[6pt]\text{Step 2: Calculate amount after the second year:} \\A_2 = 82,368 \times \left(1 + \frac{50}{100}\right) = 82,368 \times 1.50 = 123,552 \\[6pt]\text{Compound Interest} = A_2 - P = 123,552 - 63,360 = ₹60,192 \\[6pt]\text{Therefore, the Compound Interest is } \boxed{₹60,192}.​​

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