Question

An amount RS 500 is deposited in a bank which pays annual interest at the rate of 10% compounded annually. What will be the value of this deposit at the end of 10th year?

Answer 1

ci=500(1+10/100)^10
ci=1296.87
amount=500+1296.87
amount=1796.87

Answer 2

Hi friends
Here is your answer

P = Rs 500
R = 10%
T = 10 years
n= 10 as Compounded annually

As we know
A = P(1+ R/100)^n
$= 500 \times (1 + \frac{10}{100} ) {}^{10} \\ \\ = 500 \times ( \frac{10 + 1}{100} ) {}^{10} \\ \\ = 500 \times ( \frac{11}{10} ) {}^{10} \\ \\ = \frac{500 \times 11 \times 11 \times 11 \times 11 \times 11 \times 11 \times 11 \times 11 \times 11 \times 11}{10 \times 10 \times 10 \times 10 \times 10 \times 10 \times 10 \times 10 \times 10 \times 10} \\ \\ = 1296.87$
So Amount after 10 years is Rs 1,296.87

Hope it helps you

@ MSD