The following table shows the percentage (%) increase in income and…
2024
The following table shows the percentage (%) increase in income and expenditure of various types of Banks, namely PSU Banks, Old Private Banks, New Private Banks and Foreign Banks over the previous year during the year 2021-2022 and 2022-2023. Based on the data in the table, answer the questions that follow :
Income and expenditure details of Banks
Bank type | Percentage Increase in Income over previous year (2021-2022) | Percentage Increase in Income over previous year (2022-2023) | Percentage Increase in Expenditure over previous year (2021-2022) | Percentage Increase in Expenditure over previous year (2022-2023) |
PSU Banks | 15% | 17% | 13% | 22% |
Old Private Banks | 20% | 14% | 15% | 17% |
New Private Banks | 44% | 37% | 42% | 44% |
Foreign Banks | 9% | 12% | 4% | 11% |
Note: In the above table, the meaning of any figure x% is as follows :
(I) x% in 2021-2022 means income or expenditure in 2021-2022 is x% more than that in 2020-2021.
(II) x% in 2022-2023 means income as expenditure in 2022-2023 is x% more than that is 2021-2022
Consider the income of PSU Banks in 2020-2021 as ₹ 10,00,000 crore. If the expenditure of PSU Banks in 2022-2023 is equal to the income of PSU Banks in 2020-2021, then the income of PSU Banks in 2022-23 will be approximately ___________ % more than the expenditure of PSU Banks in 2021-2022.
- A.
62
- B.
44
- C.
56
- D.
64
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Show answer & explanation
Correct answer: D
Step 1: Calculate Income of PSU Banks. Income in 2020-21 = ₹ 10,00,000 crore. Income in 2021-22 = 10,00,000 * (1 + 15%) = ₹ 11,50,000 crore. Income in 2022-23 = 11,50,000 * (1 + 17%) = ₹ 13,45,500 crore.
Step 2: Calculate Expenditure of PSU Banks. Given Expenditure in 2022-23 = Income in 2020-21 = ₹ 10,00,000 crore. Expenditure in 2021-22 = Expenditure in 2022-23 / (1 + 22%) = 10,00,000 / 1.22 ≈ ₹ 8,19,672 crore.
Step 3: Calculate Percentage Difference. Required % = [(Income 2022-23 - Expenditure 2021-22) / Expenditure 2021-22] * 100 = [(13,45,500 - 8,19,672) / 8,19,672] * 100 ≈ 64.15%.