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?

₹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