Question

The present cost of a plot of land is Rs 62,500.if the cost is increasing at the rate of 4%,what will be the cost of plot of the same land after 3 year

Answer 1

Answer:

1. present cost 62500
2. percentage increase 4%
3. so, increase is for 4 years
4. first year 62500/100*4 equals to 2500 62500+2500 equals to 65000
5. second year 65000/100*4 equals to 2600 so 65000+2600 equals to 67600
6. last year 67600/100*4 equals to 2704 so 67600+2704 equals to 70304