Question

Madan bought a plot of land for Rs 88,000. its value is appreciating at the rate of 5% per 6 months. Find its value after 2 years.

Answer 1

Based on the given problem, here are steps and answer regarding the value of the land after two years.

Answer:

Rs 106,964.55

Step-by-step explanation:

Consider the given that the value of land appreciates by 5% per six months.

There are four 6 months within 2 years. Therefore, within two years, the plot of land will appreciate by 5% for four times.

Therefore, the equation is: (((((Rs 88,000) x 1.05 ) x 1.05) x 1.05) x 1.05) = (Rs 88,000)*

Solve the equation and the answer will be Rs 106,964.55.