Rock750 wrote:

Two years ago, Sam put $1,000 into a savings account. At the end of the first year, his account had accrued $100 in interest bringing his total balance to $1,100. The next year, his account balance increased by 10%. At the end of the two years, by what percent has Sam's account balance increased from his initial deposit of $1,000 ?

A- 19%

B- 20%

C- 21%

D- 22%

E- 25%

Explanations would be appreciated

investment 1000 dollars

1 st year total gained = 100

total amount end of first year = 1100

second year account increased by 10 % = 1100*0.1 = 110

therefore total amount by second year end = 1210

so total percentage increase in money = (1210-1000)*100/1000 = 21 %

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