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      Question

      The income of ‘A’ increases by 20% every year. If

      his income 2 years hence from now will be Rs. 34560, then find his income a year before from now.
      A Rs. 25000 Correct Answer Incorrect Answer
      B Rs. 23000 Correct Answer Incorrect Answer
      C Rs. 20000 Correct Answer Incorrect Answer
      D Rs. 25000 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 + 20/100)2 = 34560 Or, x = 34560/(1.2)3 = 24000 Therefore, his income a year before from now = 24000/1.2 = Rs. 20000

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