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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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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

User Ezequiel Adrian
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1 Answer

5 votes
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
User Greg Kennedy
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