Monthly salary of Jitvik in the month of December 2020 was ₹24,800. Every year his salary increases by 5% from the month of January. What was his salary (in ₹) in the month of February 2022?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 27342.
Original salary (December 2020) = 24800
Salary in January 2021 = 24800 × (105/100) = 26040
Salary in January 2022 = 26040 × (105/100) = 27342
Therefore, Jitvik's salary in February 2022 was ₹27,342.