The salary of an employee increases consistently by 20% every year. If his salary today is Rs. 14,000. What will be his salary after 3 years?
Answer & explanation
Correct answer: option 1
ATQ ,
Amount after 3 years = 14000 × \(\frac{120}{100}\) × \(\frac{120}{100}\) × \(\frac{120}{100}\)
= 14000 × \(\frac{6}{5}\) × \(\frac{6}{5}\) × \(\frac{6}{5}\)
=Rs 24192