Question

Shibu deposited 10000 rupees in a bank, which gives 10% interest compounded annually.
a) After one year how much money would he have in his account?
b) After one more year he withdrew 10000 rupees. What is the balance amount in his account?

Answer 1

thats your answer , buddy!

Answer 2

Step-by-step explanation:

a) compound interest = P(1+r/100)^n

P = 10000

r = 10

n = 1

Amount after one year =10000(1+10/100)^1

=10000(110/100)^1

=100*110

=11000

b)After one more year the amount in his account = 11000(1+10/100)^1

= 11000(110/100)^1

= 1100*11

= 12100

Amount withdrawn = 10000

balance amount in his account = 12100-10000

= 2100/-