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A owner increases the rent of his house by 5% at the end of each year. If currently its rent is ₹ 2500 per month, how much will be

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A owner increases the rent of his house by 5% at the end of each year. If currently its rent is ₹ 2500 per month, how much will be the rent after 2 years’?

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Present house rent = ₹ 2500 

If the owner increases the rent by 5% on every year then the rent of the house after 2 years

= 2500 × \(\frac{21}{20}\) x \(\frac{21}{20}\)

= ₹ 2756.25

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