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

Question

Mathematics

Hugh Meza

23 January, 01:09

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

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Answers (1)

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Triston Dawson · Answer 1

no 120≠121

Step-by-step explanation:

no, this can be showed as the following-

10% of $100 is $10 we them add it to get $110

now another 10% increase, this time $110 gives an $11 increase

adding this together we get $121

20% of $100 is $20. we then add this together to get $120

120≠121