Study the following bar chart, which represents the income and expenditure of a company.
What is the difference of profit between the years 2001 and 2002?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 10 lakhs.
Profit = Income - Expenditure
According to the given graph,
Profit in 2001 = 60L - 40L
⇒ Profit in 2001 = 20L
Profit in 2002 = 40L - 30L
⇒ Profit in 2002 = 10L
Now, difference = 20L - 10L = 10L
Hence the difference between the profits of 2001 and 2002 is 10 lakhs.