The following bar chart shows the income and expenditure (in lakhs) of five companies (P, Q, R, S, T) in the year 2020. The percentage profit or loss of a company is given by:
(Profit or loss)% ; where I = Income, E = Expenditure
If the income of company R in 2020 was 10% more than its income in 2019 and the company had earned a profit of 30% in 2019, then its approximate expenditure in 2019 (in lakhs) was:
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. ₹61.54.
Income of company R in 2019 = 88/1.1 = 80 lakhs
Let the expenditure in 2019 = x
(80 - x)/x = 30/100 = 0.3
⇒ 80 - x = 0.3x
⇒ 1.3x = 80
⇒ x = 80/1.3 = ₹61.54 (approx)