The salary of Arpit fell by 5% after 1 year and further fell by 8% after the second year due to bad performance. Initially, his salary was ₹80,000. What is his current salary (in ₹)?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 69920.
Given that
Initially, his salary was ₹80,000
The salary of Arpit fell by 5% after 1 year
His salary further fell by 8% after the 2nd year
According to the question
⇒ 80000 × (100 - 5)/100 × (100 - 8)/100
⇒ 80000 × 95/100 × 92/100
⇒ ₹69920