Question -
Answer -
Given,
The amount depositedin the bank is Rs 500.
At the end of firstyear, amount = Rs 500(1 + 1/10) = 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….
Therefore,
The amount at the endof 10 years = Rs 500 (1.1) (1.1) … (10 times)
= Rs 500(1.1)10