6. The price of land grows by 10% every year.
If the price in 1995 was₹10,000 find its
price in 1998.
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Answered by
2
Answer:
10,000 in 1995
10,000 + .10*10,000 = 11,000 in 1996
11,000 + .10*11,000 = 12100 in 1997
12100 + .10*12100 = 13,310 in 1998.
The formula you could use to solve this is F = P(1 + i)n
The Future value (F) is equal to the Present value (P) times one plus the annual increase (i) to the power of the number of years (n).
P = 10,000
i = .10
n = 3
F = 13,310
Answered by
2
Answer:
The price of the land in 1998 will be Rs. 13310
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