Mathematics for IGCSE & O level - Percentages (Section 4 - No. 20)
If an item costs $12 now and its price increases by 5% per year due to inflation, what will it cost in 2 years' time?
$12.60
$13.23
$13.20
$14.00
Explanation
The price after 2 years will be $12 * 1.05 * 1.05 = $13.23.
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