Question

$10,000 invested at 16.5% interest rate p.a. Find the total amount to be paid to the bank at the end of the year.​

Answer 1

Answer:

$ 11,650.

Step-by-step explanation:

Here,

P = 10,000, R = 16.5%, T = 1yr

S.I = P×R×T / 100

S.I = 10000 × 16.5 × 1 / 100

S.I = 1650

Amount = S.I + Principle

Amount = 1650 + 10000

Amount = 11650.

Ans : $ 11,650