Question

The value of a piece of land appreciates every year by 20% of its value at the
beginning of the year. If its present value is * 2,50,000, calculate:
(0) its value after 1 year; (ii) its value after 2 years.
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Answer 1

Answer:

300,000 and 360,000

Step-by-step explanation:

Increase rate= 20% = 1.2 times

Present value= 250,000

1. Value after 1 year= 250,000 *1.2= 300,000

2. Value after 2 years= 300,000*1.2=360,000