6. Atulya started a business with an annual investment of c64,000. During the first year he incurred a loss of 4%. However during second year he earned a profit of 5% which rose to 10% during third year Find the net profit earned by him at the end of 3 years? 7
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Answer:
6963.2
p=6400
loss of rate =4%
1year time
A=6400(1-4/100)1
64000*96/100
=61440
principal after loss in first year =61440
profit =5%
A=61440(1+5/100)1
61440*105/100
=64512
principal after profit and loss of first and second year =64512
rate rose in third year by 10 %
A=64512*1+10/100
64512*110/100
=70963.2
net profit after 3 hours =70963.2-64000
=6963.2
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