SELECT * FROM question_mgmt as q WHERE id=1045 AND status=1 SELECT id,question_no,question,chapter FROM question_mgmt as q WHERE courseId=2 AND subId=6 AND chapterId=80 and ex_no='3' AND status=1 ORDER BY CAST(question_no AS UNSIGNED) CBSE Free NCERT Solution of 11th mathematics Sequence and Series what will rs 500 amounts to in 10 years after its

Question:

What will Rs 500 amounts to in 10 years after its deposit in a bank which pays annual interest rate of 10% compounded annually?

Answer:

The amount deposited in the bank is Rs 500.

At the end of first year, amount = R s. space 500 open parentheses 1 space plus space 1 over 10 close parentheses = Rs 500 (1.1)

At the end of 2nd year, amount = Rs 500 (1.1) (1.1)

At the end of 3rd year, amount = Rs 500 (1.1) (1.1) (1.1) and so on

∴Amount at the end of 10 years = Rs 500 (1.1) (1.1) … (10 times)

= Rs 500(1.1)10


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