If price increase at a monthly rate of 1.3%, by what percentage do they increase in a year

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22-05-2017
Mathematics

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If price increase at a monthly rate of 1.3%, by what percentage do they increase in a year

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Aliwohaish12 Aliwohaish12 · Answer 1 · 2017-05-22T00:45:53+02:00

Aliwohaish12 Aliwohaish12

22-05-2017

If the price increase in the year
As know that there are 12 months in a year
1.013^(12)=1.1677
1.1677−1=0.1677
0.1677×100
=16.77% the price increase in a year

Hope it helps

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