Question

    The income of ‘A’ increases by 28% every year. If the present income of ‘A’ is Rs. 40960 and his expenditure 2 years ago from now was Rs. 12000, then find his savings 2 years ago from now.

    A Rs. 13200 Correct Answer Incorrect Answer
    B Rs. 13300 Correct Answer Incorrect Answer
    C Rs. 13000 Correct Answer Incorrect Answer
    D Rs. 12500 Correct Answer Incorrect Answer

    Solution

    According to the question, Income of ‘A’ 2 years ago = 40960/(1.28)2 = Rs. 25000 Required savings = 25000 – 12000 = Rs. 13000

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