Question

The monthly salary of a worker in a factor increases every year by $10\%$. If the present monthly salary of a worker is Rs. $2500$, find his monthly salary after $2$ years.

• A. $1025$
• B. $2025$
• C. $3025$
• D. $4025$

Answer 1

The correct option is C $3025$

Given, $P=2500,r=10\%,n=2$ years
We know, $A=P\left[\right(1+\frac{r}{100}{)}^n]$
$\Rightarrow A=2500\left[\right(1+\frac{10}{100}{)}^2]$
$\Rightarrow A=$ Rs. $3025$

Therefore, monthly salary is Rs. $3025$.