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The selling price of a commodity increases by 20% each year. If present selling price of the commodity is Rs. 100 per item, then what would be selling price per item of the commodity after 3 years? 

The selling price of a commodity increases by 20% each year. If present selling price of the commodity is Rs. 100 per item, then what would be selling price per item of the commodity after 3 years?  Correct Answer Rs. 172.8

Given:

Selling price of commodity increases by 20% each year

Present selling price of commodity = Rs. 100 per item

Calculation:

Selling price of commodity after 1 year = 100 × 120/100

Selling price of commodity after 2 years = 100 × 120/100 × 120/100

Selling price of commodity after 3 years = 100 × 120/100 × 120/100 × 120/100 = 100 × 1728/1000 = 172.8

Short trick:

100 × 1.2 × 1.2 × 1.2 = 172.8

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