I bought my flat last year for £40,000. The value of my flat increased by 12% in September and then by a further 10%in January this year. What is it's value now?
Or 4 more understanding: 12% of £40000 1%= 400, therefore, 12%= 4800. In January, the value was £44800. 10% of this is £448. Add £448 to £44800, giving you £45, 248
