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

Explanation

To solve the problem of how much Rs. 500 will amount to in 10 years with an annual interest rate of 10% compounded annually, we can follow these steps:

### Step-by-Step Solution:

1. **Identify the Variables:**
- Principal amount (P) = Rs. 500
- Annual interest rate (r) = 10% = 0.10
- Number of years (n) = 10
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