Q. 214.2( 24 Votes )

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).

Answer :

Let p and t be principal and time respectively.

Given that principal increases continuously at rate of 5% per year.



Separating variables,



Integrating both sides,




When t = 0, p = 1000



At t = 10






So after 10 years the total amount would be Rs.1648


Rate this question :

How useful is this solution?
We strive to provide quality solutions. Please rate us to serve you better.
Related Videos
Interactive Quiz on DIfferential CalculusInteractive Quiz on DIfferential CalculusInteractive Quiz on DIfferential Calculus50 mins
Interactive Quiz on Differential Calculus | Check YourselfInteractive Quiz on Differential Calculus | Check YourselfInteractive Quiz on Differential Calculus | Check Yourself56 mins
Functional Equations - JEE with easeFunctional Equations - JEE with easeFunctional Equations - JEE with ease48 mins
Try our Mini CourseMaster Important Topics in 7 DaysLearn from IITians, NITians, Doctors & Academic Experts
Dedicated counsellor for each student
24X7 Doubt Resolution
Daily Report Card
Detailed Performance Evaluation
caricature
view all courses