What will Rs. 500 amounts to in 10 years...

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

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To find the amount that Rs. 500 will grow to in 10 years with an annual interest rate of 10% compounded annually, we can use the compound interest formula: ### Step-by-Step Solution: 1. **Identify the Variables**: - Principal (P) = Rs. 500 - Rate of interest (r) = 10% - Time (n) = 10 years ...

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Knowledge Check

Rupa deposited Rs.200 per month for 15 months in a bank's recurring deposit account. If the bank pays interest at a rate of 10% per annum, then the interest earned by Rupa during this period is:

A

Rs.300

B

Rs.250

C

Rs.200

D

Rs.150

Seema deposited Rs.100 per month for 24 months in 9 bank's recurring deposit account. If the bank pays an interest of 10% p.a., then the amount she gets on maturity is:

A

Rs.1,490

B

Rs.1,940

C

Rs.2,065

D

Rs.2,650

Mr. Jain deposited Rs 500 per month in a cumulative deposit asccount for 2 years. If the bank pays interest at the rate of 7% per annum, then the amount he gets on maturity is:

A

Rs 875

B

Rs 6,875

C

Rs 10,875

D

Rs 12,875

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The simple interest on a certain sum of money at 10% per annum is 6,000 in 2 years. Find the amount due at the end of 3 years and at the same rate of interest compounded annually.

Rekha deposited Rs 16000 in a foreign bank which pays interest at the rate of 20% per annum compounded quarterly, find the interest received by Rekha after one year.

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