Calculate price after the first year

Apply the 10% increase to the initial price: $1600 + (10\% \text{ of } 1600) = 1600 + 160 = 1760$.

$1600 \times 1.1 = 1760$

Calculate price after the second year

Apply the 30% increase to the new price of ₹1760: $1760 + (30\% \text{ of } 1760) = 1760 + 528$.

$1760 \times 1.3 = 2288$

Final Verification

Combining the multipliers: $1600 \times 1.1 \times 1.3 = 1600 \times 1.43 = 2288$.

$1600 \times (\frac{110}{100}) \times (\frac{130}{100}) = 2288$