The price of a commodity increases by 10% from 2020 to 2021 and it again increases by 15% from 2021 to 2022. The difference in the prices in 2020 and 2022 is Rs 35. What is the price of the commodity (in Rs) in 2021 (rounded up to one decimal place)?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 145.3.
Calculations:
Let the price of the commodity in 2020 be 100x
Price in 2021 = 110% of 110x = 110x
Price in 2022 = 115% of 110x = 126.5x
According to the question;
⇒ 126.5x - 100x = 35
⇒ 26.5x = 35
⇒ x = 1.32075
Price in 2021 = 110x
⇒ 110 × 1.32075 = 145.28 ≈ 145.3