atulya started a business with an annual investment of RS 64,000. 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?
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Answer:
it is given that
Investment (P) = 400000
Loss in the first year =4%
Profit in the second year = 5%
Profit in the third year = 10%
We know that
Total amount after 3 years =P(1+r/100)
n
Substituting the values
=400000(1−4/100)(1+5/100)(1+10/100)
By further calculation
=400000×24/25×21/20×11/10
=443520
So the net profit after 3 years = 443520−400000=43520
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