Directions: Study the following graph carefully to answer the questions that…
2024
Directions: Study the following graph carefully to answer the questions that follow:
Monthly income (Rs. in thousands) of three different persons in six different years
What was the percentage increase in the monthly income of Jyoti in the year 2008 as compared to previous year ?
- A.
50%
- B.
89%
- C.
83%
- D.
67%
Show answer & explanation
Correct answer: A
Percentage increase between two periods is found using the formula: Percentage Increase = ((New Value − Old Value) / Old Value) × 100, where the 'Old Value' is the base value from the EARLIER period and the 'New Value' is from the later period.
From the bar graph, Jyoti's (green bar) monthly income in 2007 = Rs. 18,000.
Jyoti's monthly income in 2008 = Rs. 27,000.
Increase in income = 27,000 − 18,000 = Rs. 9,000.
Percentage increase = (9,000 / 18,000) × 100 = 50%.
Cross-check: 18,000 × 1.5 = 27,000, confirming the 50% rise on the 2007 base.