New Click here to Enroll for SIDBI MSME Expert Classes by Experts

    Register

    Question

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

    his income 3 years hence from now will be Rs. 13478.4, then find his income a year before from now.
    A Rs. 6000 Correct Answer Incorrect Answer
    B Rs. 6580 Correct Answer Incorrect Answer
    C Rs. 6500 Correct Answer Incorrect Answer
    D Rs. 6800 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)3 = 13478.4 Or, x = 13478.4/(1.2)3 = 7800 Therefore, his income a year before from now = 7800/1.2 = Rs. 6500

    Practice Next