Determining the cost of item for next five years, Civil Engineering

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Determining the cost of item for next five years

Problem:

The present (today's) cost of an item is Rs.20000. The inflation rate is 5% per year.

Required:

Question: How does the inflation affect the cost of the item for the next five years?

Note: Please explain comprehensively and give step by step solution.

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Civil Engineering: Determining the cost of item for next five years

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Civil Engineering: Determining the cost of item for next five years

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