if an amount of $100 in a savings account increases by 10% , then increases by 10% again, is that the same as increasing by 20%

Question

marin [14]

3 years ago

9

if an amount of $100 in a savings account increases by 10% , then increases by 10% again, is that the same as increasing by 20%

explain.

Mathematics

2 answers:

Elina [12.6K] · Answer 1 · 2021-12-19T05:09:56+03:00

Elina [12.6K]3 years ago

5 0

100 + 100 * 10/100 = 110

NOW 110 INCREASES BY 10 %, 110 + 110*10/100 = 110+ 11 = 121

INCREASE OF 20 % = 100 + 100*20/100= 100+20 = 120

SO IT IS NOT SAME

ozzi · Answer 2 · 2021-12-19T07:00:02+03:00

ozzi3 years ago

3 0

No becuase when you get ten percent the 1st time you add it to the $100 then you have $110 so then you gain ten percent the second time and it would give you $121 but if you just did swenty percent it would be $120