a shopkeeper bought a shop at rs 1,80,000 in 2002. Every year, the price is incremented by 2%. What should be the price of the sho

1 thought on “a shopkeeper bought a shop at rs 1,80,000 in 2002. Every year, the price is incremented by 2%. What should be the price of the sho”

1. Step-by-step explanation:

   Simple interest = (principal*time*rate) /100

   P = 180000

   R = 2%

   T = 1(year)

   180000*2*1/100

   Simple interest = ₹3600

   so the incremented valie after two years (in 2014) =

   3600*2 = ₹7200

   Total amount = ₹180000*₹7200 = ₹187200

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