Question 1041885: If there was a 6% inflation rate for the next 20 years, a ₹100 purchase today will cost how much in 20 years?
Answer by jorel555(1290)   (Show Source):
You can put this solution on YOUR website! The cost of money, accounting for inflation, is (1+r)^n, where r is the rate of inflation, and n is the amount of time periods in question. So:
100 x (1.06)^20=100x3.20713547221=₹ 320.713547221 is what it will cost for ₹100 worth of goods today.
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