Question

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

    his income 3 years hence from now will be Rs. 51840, then find his income a year before from now.
    A Rs. 20000 Correct Answer Incorrect Answer
    B Rs. 22000 Correct Answer Incorrect Answer
    C Rs. 22200 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)3 = 51840 Or, x = 51840/(1.2)2 = 30000 Therefore, his income a year before from now = 30000/1.2 = Rs. 25000

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