Salary of Vinod in 4 different years.
In which year's salary increased percentage is more than 20% but less than 25%?
Answer & explanation
Correct answer: option 3
Percentage increase of Vinod's salary in 2014 = \(\frac{(12500 - 10000)}{10000}\) × 100 = 25%
Percentage increase of Vinod's salary in 2015 = \(\frac{(14670 - 12500)}{12500}\) × 100 = 17.36%
Percentage increase of Vinod's salary in 2016 = \(\frac{(17890 - 14670)}{14670}\) × 100 = 21.9%
In 2016, percentage increase is 21.9% which is more than 20% but less than 25%