Q58 of 76 Page 931

In a bank, principal increases at the rate of 5% per annum. An amount of ` 1000 is deposited in the bank. How much will it worth after 10 years?

(Given e0.5 = 1.648)


Given: rate of interest = 5%


P(initial) = Rs 1000


And,



⇒


⇒


⇒


⇒


For t = 0, we have p = 1000



For t = 10 years we have,




Thus, principal is Rs1648 for t = 10 years.


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