Question

john deposited $1000 in a bank. he signed the contract for 5 years at the rate of 10% per annum. what will be his total amount after 5 years?

Answer 1

Answer:

1200$ is the amount he will get

Answer 2

Answer:

$1500

Step-by-step explanation:

100% = $1000

10% = $(1000 ÷ 10)

= $100

In one year, he will get $100

In 5 year, he will get (100 × 5)

= $ 500

he will get total (1000 + 500)

= $ 1500

Ans, $1500