The income of a person is Rs. 6400, if his income increases by 10% each year then what will be his income after two years.
1. Rs. 7680
2. Rs. 7400
3. Rs. 7744
4. Rs. 7000
1. Rs. 7680
2. Rs. 7400
3. Rs. 7744
4. Rs. 7000
Lost your password? Please enter your email address. You will receive a link and will create a new password via email.
Please briefly explain why you feel this question should be reported.
Please briefly explain why you feel this answer should be reported.
Please briefly explain why you feel this user should be reported.
Correct Answer – Option 3 : Rs. 7744
Given:
Income of the person = Rs. 6400
Percentage increase every year = 10%
Time = 2 years
Formula used:
If there is increase in x% then then the value after the increment = Initial value × (100 + x)/100
Calculation:
Income after one year = Initial income × (100 + 10)/100
⇒ Income after one year = 6400 × 11/10 = 7040
Income after second year = 7040 × (100 + 10)/100 = 7744
∴ Income after two years will be Rs. 7744