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At the tart of 2014, Jim' houe wa worth £240,000. The value of the houe increaed by 5% every year. Work out the value of hi houe at the tart of 2017

Sagot :

The value of the house at the start of 2017 is 2,33,625.

At the start of 2014 it was worth 240,000

At the start of 2015 it was worth 240,000 plus the 5% of the 2014 worth

5% of 240,000 is 12,000

So at the star of 2015 the worth was (240,000 + 12000) = 2,52,000

In 2016 the worth was 2,50,000 plus 5% of it

The 2016's worth was (250,000 + 12500) = 262,500

The 2017's worth was 262,500 plus 5% of it

The 2017's worth was (220,500 +13125) = 2,33,625.

Therefore, the value of the house is  2,33,625.

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