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31 Dec 2019, 02:54
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C
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Difficulty:
65%
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Question Stats:
61% (02:16) correct
39%
(02:02)
wrong
based on 171
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Not Attempted Yet
The property prices appreciate at a rate of 7% per annum. I bought a house in the year 2003 which had cost me Rs. 10,00,000 at that time. What will be its approximate cost three years later?
A. 12,60,000
B. 12,23,000
C. 12,25,000
D. 12,27,000
E. 12,29,000
A. 12,60,000
B. 12,23,000
C. 12,25,000
D. 12,27,000
E. 12,29,000
Archit3110
Major Poster
31 Dec 2019, 11:05
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Bunuel
2003 cost =10^6
after 3 years = 10^6 * (1.07)^3
IMO C ; 12,25,000
31 Dec 2019, 13:06
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Option C
In 2003, the cost would be 1.000.000, but as the price appreciate 7% annually:
\(Cost in 3 years = Cost Today * 1,07^3\)
\(Cost in 3 years = 1.000.000*1,07^3 = 1.225.000\)
In 2003, the cost would be 1.000.000, but as the price appreciate 7% annually:
\(Cost in 3 years = Cost Today * 1,07^3\)
\(Cost in 3 years = 1.000.000*1,07^3 = 1.225.000\)
