Question

At the start of 2014, lucy's house was worth £200 000.

The value of the house increased by 5% every year.
What would her value be at the start of 2017?

Answer 1

£230,000

Explanation:

5 percent of £200,000 is £10,000 (200,000*0.05)

3 years have passed from 2014 to 2017

3 * 10,000 = 30,000

£200,000 + £30,000 = £230,000