Kavya's monthly salary is ₹40,000. It is raised by 10% at the end of every year. What will her monthly salary be after 3 raises?

Explanation

1. 01

   Salary = $40000 \times 1.1^3$.

2. 02

   $1.1^3 = 1.331$, so salary = $40000 \times 1.331 = ₹53{,}240$.