Find the compound interest for a sum of ₹ 9375 in 2 yr, if the rate of interest for the first year is 2% and for the second year is 4%.

Given, P = ₹ 9375, R₁ = 2% and R₂ = 4%
According to the formula,
A = P (1 + R₁/100) (1 + R₂/100)
= 9375 (1 + 2/100) (1 + 4/100)
= 9375 x (51/50) x (26/25)
= 7.5 x 51 x 26
= ₹ 9945
Now CI = A - P = 9945 - 9375 = ₹ 570