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.
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
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