Question
The income of a company increases 20% per year. If the income is Rs. 26,64,000 in the year 2012, then its income in the year 2010 was :
Answer: Option D
Answer: (d)Using Rule 1,Let the income of company in 2010 be Rs.PAccording to the question,A = P$(1 + R/100)^T$2664000 = P$(1 + 20/100)^2$2664000 = P$(1 + 1/5)^2$2664000 = P × $(6/5)^2$P = ${2664000 × 5 × 5}/{6 × 6}$ = Rs.1850000
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Answer: (d)Using Rule 1,Let the income of company in 2010 be Rs.PAccording to the question,A = P$(1 + R/100)^T$2664000 = P$(1 + 20/100)^2$2664000 = P$(1 + 1/5)^2$2664000 = P × $(6/5)^2$P = ${2664000 × 5 × 5}/{6 × 6}$ = Rs.1850000
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