What will 5000 amount to in 10 years, compounded annually at 10% per

To find: The amount after ten years

Given: (i) Principal – 5000

(ii) Time – 10 years

(iii) Rate – 10% per annum  

Formula used: $A=P\left(1+\frac{r}{100}\right)^{t}$

$\Rightarrow A=5000\left(1+\frac{10}{100}\right)^{10}$

$\Rightarrow A=5000\left(\frac{110}{100}\right)^{10}$

$\Rightarrow A=5000(1.1)^{10}$

$\Rightarrow A=5000 \times 2.594$

$\Rightarrow A=12970$

Ans) The amount after years will be Rs.12970