The following table embodies the details about the profits (in Rupees Lakhs)…
2024
The following table embodies the details about the profits (in Rupees Lakhs) earned by five Retail Stores A-E during the years 2018-2023. Based on the data in the table, answer the questions that follow.
Store-wise Details of Profit
Store | Profit (in ₹ Lakh) earned in the year 2018 | Profit (in ₹ Lakh) earned in the year 2019 | Profit (in ₹ Lakh) earned in the year 2020 | Profit (in ₹ Lakh) earned in the year 2021 | Profit (in ₹ Lakh) earned in the year 2022 | Profit (in ₹ Lakh) earned in the year 2023 |
A | 12 | 18 | 24 | 21 | 15 | 30 |
B | 9 | 15 | 18 | 12 | 21 | 24 |
C | 27 | 33 | 24 | 21 | 30 | 36 |
D | 15 | 12 | 18 | 9 | 21 | 9 |
E | 18 | 21 | 15 | 15 | 12 | 24 |
Note: Profit = Income – Investment
Consider the percentage change in profit for the stores A, B, D and E for the pair of years {2018 and 2019}, {2018 and 2019}, {2018 and 2022} and {2018 and 2022}, respectively. Which store has maximum percentage change in profits for the pair of years mentioned?
- A.
A
- B.
B
- C.
D
- D.
E
Show answer & explanation
Correct answer: B
To determine the store with the maximum percentage change in profit, calculate the percentage change for each specified store and year pair using the formula: ((New Profit - Old Profit) / Old Profit) * 100.
Store A (2018-2019): Profit increased from 12 to 18. Change = ((18 - 12) / 12) * 100 = 50%.
Store B (2018-2019): Profit increased from 9 to 15. Change = ((15 - 9) / 9) * 100 ≈ 66.7%.
Store D (2018-2022): Profit increased from 15 to 21. Change = ((21 - 15) / 15) * 100 = 40%.
Store E (2018-2022): Profit decreased from 18 to 12. Change = ((12 - 18) / 18) * 100 ≈ -33.3%.
Comparing the percentage changes, Store B exhibits the maximum increase at approximately 66.7%.