General Basic Math Exams Quizzes MCQs Quizzes Percentage Math Quiz

Question:
The income of a company increases 20% per annum. If its income is Rs. 2664000 in the year 1999 what was its income in the year 1997?

Option A):
None of these
Option B):
1650000
Option C):
1750000
Option D):
1850000

Correct Answer is Option D):
1850000

Explanation:
Solution:
Here, P = 2664000, r = 20 and n = 2
Company's income in the year 1997
= P(/1 + r/100) = 2664000/1 + 20/100
= 2664000 x 5 x 5/6x6 = Rs. 1850000