The income of a branch manager increases by 15% to Rs.69,000 after one year. In the next year, due to economic depression, the income falls by 10% and in the third year, it again falls by 5%. What is the current income of the branch manager?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is Option 3 i.e. Rs.58,995.
After 15% increase:
x × 1.15 = 69,000
⇒ x = 69,000 / 1.15 = 60,000
So, original income = ₹60,000
Income after 10% fall : 60,000 × 1.15 = 69,000 ⇒ 69,000 × 0.90 = 62,100
Income after 5% fall = 62,100 × 0.95 = ₹58,995