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14 July, 19:55

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

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  1. 14 July, 23:18
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    No, it's not.

    increasing by a percentage means (1+percentage)

    $100 * (1+0.1) = $110

    $110 * (1.1) = $121

    However, $110 * 1.2 = $132
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