How many times will the sum gets multiplied in 10 years at 20 percent per annum simple rate of interest?

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1198013

2026-04-08 16:30

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To calculate the total amount after 10 years at a simple interest rate of 20% per annum, you need to consider that the interest is added to the principal each year. The sum will be multiplied by 1.2 (100% + 20%) each year for 10 years. Therefore, the sum will be multiplied 10 times over the course of 10 years.

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