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Question

Jitendra set up a factory by investing Rs. 2500000. During the first two successive years his profits were 5% and 10% respectively. If each year the profit was on previous year's capital, compute his total profit.

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Solution

Investment in the beginning
Profit during the first 2 years =5% and 10% respectively.
Investment after 2 years will be
=Rs.2500000(1+5100)(1+10100)
=Rs.2500000×2120×1110
=Rs.2887500
Amount of profit
= Rs. 2887500 - Rs. 2500000
= Rs. 387500


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