Question

If my weekly pocket money goes up by 50% each year . How much will I be getting a week after 3 years if I start on £1 a week ?

Answer 1

Answer: £3.38

Step-by-step explanation:

In the first year, the pocket money goes up by:

= 1 + (1 * 50%)

= £1.50

In the second year:

= 1.50 + (1.50 * 50%)

= £2.25

In the third year:

= 2.25 * ( 2.25 * 50%)

= £3.38