Question

what sum of money amounts to Rs 5000 in 10 years at the rate 10% interest​

Answer 1

Answer:

P=Rs. 5000

r=10%

t=10 years

By using the formula to calculate amount on which interest is compounded annually,

A

=P(1+

100

r

)

10

=5000(1+

100

10

)

10

=5000(1.1)

10

=5000×2.594

=Rs. 12970

Hence, Rs. 5000 will amount to Rs. 12970 in 10 years at rate of interest 10% per annum.

Step-by-step explanation:

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