i did not understood how the values are calculated of the land purchased after two years
Reply from Admin:
Value of land increases 5% every year.
∴ Value of land after 1 year = 1.1 × 1.05 lakhs.
Value of landn after 2 years = 1.1 × 1.05 × 1.05 = (1.1)(1.05)2 = Rs.1.21275 lakh.
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i did not understood how the values are calculated of the land purchased after two years
Value of land increases 5% every year.
∴ Value of land after 1 year = 1.1 × 1.05 lakhs.
Value of landn after 2 years = 1.1 × 1.05 × 1.05 = (1.1)(1.05)2 = Rs.1.21275 lakh.