# 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%? ##### 1 Answer Dec 6, 2016 No, $120 != $121 #### Explanation: No, and this can be shown as follows: 10% of$100 is $10. We then add this together to give$110.

Now, another 10% increase, this time on $110 gives an$11 increase.

Adding this together gives a final total of $121. 20% of$100 is $20. We then add this together to give$120.

$120 !=$121