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      Question

      The income of ‘A’ increases by 10% every year. If

      his income 3 years hence from now will be Rs. 29282, 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 + 10/100)3 = 29282 Or, x = 29282/(1.1)3 = 22000 Therefore, his income a year before from now = 22000/1.1 = Rs. 20000

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