Tina puts Rs. 48000 in a bank account. She takes it out 6 years later, it is now worth Rs. 60000. The percent increase is:
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e. 25 percent.
Calculations:
Initial amount = 48000
Amount after 6 years = 60000
Difference = 60000 - 48000 = 12000
Required % increase = (12000/48000) × 100 = 25%