Question

The cost of a piece of land is ₹405756. If it’s value is increased at the rate of 2% per annum what is its value after 1 year

Answer 1

Answer:

cost of land =rs 405756

rate =2%

time=1 year

ATQ

V=V(1+r/100)^n

V=405756(1+2/100)^1

V=405756(1+1/50)^1

V=405756(51/50)^1

V=413,871.12

so therefore value after 1 year=413,871.12