the price of is 150/m3. the price is raisd by 10% each year. wat will the price of oil be at the end of two years?
what is 1.1^2 * 150?
if i understand the question the answer would be 181.5
The question isn't exactly clear how the 10% is done. If it is raised by 10% of the base price each year (as in simple interest), the price at the end of 2 years is $150 + 15+ 15 = $180/m3. If it is raised by 10% each succeeding year from the previous year (as in compounded interest), then %181.50/m3 is correct; i.e., $150 + 15 + 16.50.
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