Question

a man deposite rupee 10000 at the end of each year in a bank, which pays 5% p.a. compound interest. if the installment are allowed to accumulate, what will be the total accumulation at the end of 10 years

Answer 1

total rupee deposited=10000

interest percent=5%=1/20

5% of 10000 is equal to=10000/20=500

add 500 to 10000=10000+500=10500

after first year the account amount will be=10500

5% of 10500 is equal to=10500/20=525

add 525 to 10500=10500+525=11025

after two years the amount will be=11025

5% of 11025 is equal to=11025/20=552

add 552 to 11025=11025+552=11025=11577

after three years the amount will be=11577

similarly you have to take this upto 10 years