Solution

Given:

Present value $$P= ₹\ 8000$$
Interest rate for the first year, $$p= 9 \%$$ per annum
Interest rate for the second year, $$q= 10 \%$$ per annum

So, Amount can be calculated using:

Amount $$(A) = P × (1+p/100) × (1+q/100)$$



Now substituting the values in above formula we get,

$$\Rightarrow A = 8000 × (1+9/100) × (1+10/100)$$
$$\Rightarrow A = 8000 × (109/100) × (11/10)$$
$$\Rightarrow A = 8 × 109 × 11$$
$$\Rightarrow A = ₹\ 9592$$