Answer: The value of the house 2 years from now is $276,480.
Option (C) is correct.
According to the question,
Cost of house last year = $ 160000
Cost of house at present = $ 192000
The increase in the price of the house is calculated by finding the difference between the prices in two consecutive years.
Increment in cost = $ (192000-160000) =$ 32000
The rate of increment can be calculated by dividing the increment by the original price and then multiplying it by 100%.
Rate of increment = 32000/160000 * 100 =20%
Thus, the value of the house 2 years from now is calculated as:
=192000(1+20/100)(1+20/100)
=192000*120/100*120/100
= $ 276480
Step-by-step explanation:
