Find the value of an article after 2 years,its present value is Rs.30,000 and increases 1st year is 3%, 2nd year is 4% and 3rd year is 5%.
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n = 2 years
P = Rs 30, 000
after 1st year the value increases 3%. it becomes :
Sum after 1 year = (100% + 3%0 = 103 /100 * 30, 000 = Rs 30, 900
Sum after 2nd year is increased by 4%.
so sum = 104% * Rs 30, 900 = Rs 32, 136
sum after 3 years can also be found in the same way by multiplying the above sum by 105/100.
P = Rs 30, 000
after 1st year the value increases 3%. it becomes :
Sum after 1 year = (100% + 3%0 = 103 /100 * 30, 000 = Rs 30, 900
Sum after 2nd year is increased by 4%.
so sum = 104% * Rs 30, 900 = Rs 32, 136
sum after 3 years can also be found in the same way by multiplying the above sum by 105/100.
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