Question

Umesh set up a new factory by investing rs 40,000. During the first three successive years his profits were 5%,10%&15%respectively. If each year the profit was on previous years capital, calculate his total profit

Answer 1

first year profit = 40000×5°/. = 2000
2nd year =42000×10°/.=4200
3rd year = 46200×15°/.=6930
thats why total profit=13130