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The selling price of diesel increases by 10% each year. If present selling price of diesel is Rs. 75 per litre, then what will be approximate per litre selling price of diesel after 3 years? 

The selling price of diesel increases by 10% each year. If present selling price of diesel is Rs. 75 per litre, then what will be approximate per litre selling price of diesel after 3 years?  Correct Answer Rs. 100

Given:

Selling price of diesel increases by 10% each year.

Present selling price of diesel = Rs. 75 per litre

Calculation:

Selling price of diesel after 1 year = 75 × 110/100

Selling price of diesel after 2 years = 75 × 110/100 × 110/100

Selling price of diesel after 3 years = 75 × 110/100 × 110/100 × 110/100 = 75 × 1331/1000 = 99.825 ~ Rs. 100

Smart way:

75 × 1.1 × 1.1 × 1.1 = 99.825 ~ Rs. 100

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