What will $Rs.$ $500$ amounts to in $10$ years after its deposit in a bank which pays annual interest rate of $10 \%$ compounded annually?
What will $Rs.$ $500$ amounts to in $10$ years after its deposit in a bank which pays annual interest rate of $10 \%$ compounded annually?
The amount deposited in the bank is $Rs.$ $500 .$
At the end of first year, amount $= Rs .500\left(1+\frac{1}{10}\right)= Rs .500(1.1)$
At the end of $2^{\text {nd }}$ year, amount $=$ $Rs.$ $500(1.1)(1.1)$
At the end of $3^{ rd }$ year, amount $= Rs.\, 500(1.1)(1.1)(1.1)$ and so on
$\therefore$ Amount at the end of $10$ years $=$ $Rs.$ $500(1.1)(1.1) \ldots . .(10 \text { times })$
$= Rs. 500(1.1)^{10}$
Similar Questions
The $6^{th}$ term of a $G.P.$ is $32$ and its $8^{th}$ term is $128$, then the common ratio of the $G.P.$ is
The $6^{th}$ term of a $G.P.$ is $32$ and its $8^{th}$ term is $128$, then the common ratio of the $G.P.$ is
The product of three geometric means between $4$ and $\frac{1}{4}$ will be
The product of three geometric means between $4$ and $\frac{1}{4}$ will be
The value of $\overline {0.037} $ where, $\overline {.037} $ stands for the number $0.037037037........$ is
The value of $\overline {0.037} $ where, $\overline {.037} $ stands for the number $0.037037037........$ is
If the ${10^{th}}$ term of a geometric progression is $9$ and ${4^{th}}$ term is $4$, then its ${7^{th}}$ term is
If the ${10^{th}}$ term of a geometric progression is $9$ and ${4^{th}}$ term is $4$, then its ${7^{th}}$ term is
If the range of $f(\theta)=\frac{\sin ^4 \theta+3 \cos ^2 \theta}{\sin ^4 \theta+\cos ^2 \theta}, \theta \in \mathbb{R}$ is $[\alpha, \beta]$, then the sum of the infinite $G.P.$, whose first term is $64$ and the common ratio is $\frac{\alpha}{\beta}$, is equal to...........
If the range of $f(\theta)=\frac{\sin ^4 \theta+3 \cos ^2 \theta}{\sin ^4 \theta+\cos ^2 \theta}, \theta \in \mathbb{R}$ is $[\alpha, \beta]$, then the sum of the infinite $G.P.$, whose first term is $64$ and the common ratio is $\frac{\alpha}{\beta}$, is equal to...........
- [JEE MAIN 2024]