New Register here for RBI, SEBI & NABARD strategy workshop! April 9 at 7 PM

    Question

    The income of ‘A’ increases by 23% every year. If

    his income 2 years hence from now will be Rs. 18608.67, then find his income a year before from now.
    A Rs. 10000 Correct Answer Incorrect Answer
    B Rs. 12000 Correct Answer Incorrect Answer
    C Rs. 13000 Correct Answer Incorrect Answer
    D Rs. 11000 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Let the present income of ‘A’ be Rs. x Therefore, x(1 + 23/100)2 = 18608.67 Or, x = 18608.67/(1.23)2 = 12300 Therefore, his income a year before from now = 12300/1.23 = Rs. 10000

    Practice Next

    Relevant for Exams: