If Chetan's present income is ₹40,000

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Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Percentages

Question:

If Chetan's present income is ₹40,000 and it increases by 1% annually, then what will be his income 2 years from now?

Options:

₹50,800

₹58,000

₹40,804

₹44,854

Correct Answer:

₹40,804

Explanation:

Present income of chetan = 40,000

According to question ,

Chetan's income after 2 years = 40,000 × $\frac{101}{100}$ × $\frac{101}{100}$

= 40,804