Chosen Solution
iMac 21.5” does not power up, no chime is heard. I know that LED codes are: LED 1 on= trickle voltage from power supply is detected by logicboard. LED2 on= logic board has detected proper power from the power supply when the computer is turned on. The problem is BOTH LEDs 1 and 2 are BLINKING (not ON continuously) when I connect the AC power cable to the mains wall socket. What problem does this point to?
What does the other LED’s telling you?
Did you try reseating the RAM? Did you replace the RAM you might have a bad SO-DIMM.