Question

the price of a plot increases at a constant rate of 5% every year find its expected price after 3 years the present prices 2 lakh

Answer 1

formula,
Future price = Present Price × (1+ r/100 ) ^ time
= 200000 × ( 1 + 5/100 ) ^ 3
= 200000 × (105/100) ^ 3
= ( 200000 × 105 ×105 ×105)/ 100× 100 × 100)
= 231525