Prices have gone up by 15% since 1974 . A bucket used to cost Rs 20 in 1974. How much does it cost now?
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Answer:
Rs 23
Step-by-step explanation:
The price in 1974 = Rs 20
Rate of inflation = 15%
Hence, the price of the bucket now will be 100 +15 %= 115% of the price in 1974
Price now = 115/100 x 20
= Rs 23
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