What will be the amount when ₹ 1000 is deposited in a bank at `10%` per annum compounded annually for 3 years?

Explanation

To find the amount when ₹1000 is deposited in a bank at an interest rate of 10% per annum compounded annually for 3 years, we can use the formula for compound interest:

**Formula:**
\[ A = P \left(1 + \frac{r}{100}\right)^t \]

Where:
- \( A \) = Amount after time \( t \)
- \( P \) = Principal amount (initial deposit)
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