Question

What is the final amount if 1102 is increased by 2% followed by a further 1% increase?

Answer 1

the final amount is 1,135

Explanation:

The computation of the final amount is shown below:

= Amount × (1 + increased percentage)

= 1102 × (1 + 0.02)

= 1102 × 1.02

= 1124.04

Now the additional one percent increase is

= 1,124.04 × 1.01

= 1,135

Hence, the final amount is 1,135

The same is to be considered