Two years ago, Ram 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 20%. At the end of the two years, by what percent has Sam's account balance increased from his initial deposit of $1,000 ?
Pick:
A) 40%	B) 25%	C) 35%	D) 30%	E) 32%
investment 1000 dollars   1 st year total gained = 100   total amount end of first year = 1100   second year account increased by 20 % = 1100*0.2= 
<gadget id="calculator">1100*0.2</gadget>
<output>220</output>
220   therefore total amount by second year end= 1320   so total percentage increase in money = (1320-1000)*100/1000= 
<gadget id="calculator">(1320-1000)*100/1000</gadget>
<output>32</output>
32 %   Correct Answer 32%=32%
<result>E</result>
Two years ago, Ram 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 20%. At the end of the two years, by what percent has Sam's account balance increased from his initial deposit of $1,000 ?