The price of kerosene increases by 10% every year. If the current price of kerosene is ₹50 per litre, then what will be the price of kerosene per litre after 2 years?

₹65.6 ₹60.5 ₹52.5 ₹55.6

₹60.5

Current price of oil = 50 New price after 2 years = 50 × \(\frac{100+10}{100}\) × \(\frac{100+10}{100}\) = 50 × \(\frac{110}{100}\) × \(\frac{110}{100}\)  = 60.5