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    Question

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

    the present income of ‘A’ is Rs. 23040 and his expenditure 2 years ago from now was Rs. 10500, then find his savings 2 years ago from now.
    A Rs. 5200 Correct Answer Incorrect Answer
    B Rs. 5300 Correct Answer Incorrect Answer
    C Rs. 5500 Correct Answer Incorrect Answer
    D Rs. 5400 Correct Answer Incorrect Answer

    Solution

    According to the question, Income of ‘A’ 2 years ago = 23040/(1.2)2 = Rs. 16000 Required savings = 16000 – 10500 = Rs. 5500

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