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In a Bank, Principal Increases Continuously at the Rate of 5% per Year. an Amount of Rs 1000 is Deposited with this Bank, How Much Will It Worth After 10 Years - CBSE (Science) Class 12 - Mathematics

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Question

In a bank, principal increases continuously at the rate of 5% per year. An amount of Rs 1000 is deposited with this bank, how much will it worth after 10 years (e0.5 = 1.648)..

Solution

Let p and t be the principal and time respectively.

It is given that the principal increases continuously at the rate of 5% per year.

Hence, after 10 years the amount will worth Rs 1648.

  Is there an error in this question or solution?

APPEARS IN

 NCERT Solution for Mathematics Textbook for Class 12 (2018 to Current)
Chapter 9: Differential Equations
Q: 21 | Page no. 397
Solution In a Bank, Principal Increases Continuously at the Rate of 5% per Year. an Amount of Rs 1000 is Deposited with this Bank, How Much Will It Worth After 10 Years Concept: Methods of Solving First Order, First Degree Differential Equations - Differential Equations with Variables Separable.
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