The present price of a statue is Rs. 6760 and its value increases every year by 4%. What was its price 2 years ago?
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Explanation :
Price of house is rupees 6760.
Annual increasing rate is 4%.
Let it price two years ago be x.
Therefore,
6760 = x (1+4/100)^2
=> x = rupees 6250
So,
The price of House 2 years ago is equal to 6250
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