a man joined a companyas assistant manager.the company give him Rs60,000 and agreed to increase his salary 5% annualy. what will be thesalary after 5 years
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Answered by
4
Answer:
76576.9
Step-by-step explanation:
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Answered by
4
Answer:
The given condition can be considered as a compound Interest.
- P = ₹ 60,000
- R = 5%
- T = 5 years => n = 5
Salary after 5 years = P [ 1 + R/100 ]^n
= 60,000 [ 1 + 5/100 ]^5
= 60,000 × [ 1.05 ]^5
= 60,000 × 1.276281
= ₹ 76,577.
∴ After five years the man's salary is ₹ 76,577.
Step-by-step explanation:
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