The income of a company increase 20% per annum. If its income is Rs. 15,30000 in the year 2002. then its income in the year 2000 was:
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The income of a company increase 20% per annum. If its income is Rs. 15,30000 in the year 2002. then its income in the year 2000 was:
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Answer:
Let the income in 2010 be P.
⇒ R=20%
⇒ Income of year 2012 = Rs * .26, 64, 000
⇒Income of 2012 = P * ([1 + R/100]²)
⇒ 2664000=P[1+ 20 100²]
⇒ 2664000=P* 6/5 * 6/5
⇒Income in 2010 = 1850000
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