The price of diesel increases by 5% every year. If the current price of diesel is ₹80 per litre, then what will be the price of diesel per litre after 2 years?
Answer & explanation
Correct answer: option 4
Increase in price yearly = 5%
Current price = 80
Price after two years = 80 × \(\frac{105}{100}\) × \(\frac{105}{100}\) = ₹88.2