The following table shows the income, expenditure and profit percentage of a…
2023
The following table shows the income, expenditure and profit percentage of a company for six years from 2017 to 2022. Income and expenditure figures are in Rs. million and the percentage increase in profit percent in year 2022 in comparison to previous year is \(33\frac{1}{3}\%\). Based on the data in the table, answer the questions that follow.
Year-wise details of Income, Expenditure and Profit of a company
Year | Income (in Rs. million) | Expenditure (in Rs. million) | Profit% |
|---|---|---|---|
2017 | 103.824 | - | 12% |
2018 | - | 83.8 | 25% |
2019 | 95.76 | 84 | - |
2020 | 113.28 | - | 20% |
2021 | 133.1 | 110 | - |
2022 | 121.6 | - | - |
Note: Some values are missing in the table (marked as '-') that you are expected to calculate if required.
Expenditure in 2020 is ______% more than the expenditure in 2017. (round off to two decimal places)
Answer: C. 1.83 — ConceptWhen profit percentage is calculated on expenditure, income equals expenditure plus profit. Therefore, if the profit rate is p%, Income = Expenditure ×…
- A.
1.22
- B.
1.69
- C.
1.83
- D.
1.45
Attempted by 2 students.
Show answer & explanation
Correct answer: C
Concept
When profit percentage is calculated on expenditure, income equals expenditure plus profit. Therefore, if the profit rate is p%, Income = Expenditure × (1 + p/100).
To compare two expenditures, first recover each expenditure from its income and profit rate, then divide their difference by the earlier expenditure and multiply by 100.
Application
For 2017, Expenditure = 103.824 ÷ 1.12 = 92.7 million rupees.
For 2020, Expenditure = 113.28 ÷ 1.20 = 94.4 million rupees.
Increase in expenditure = 94.4 − 92.7 = 1.7 million rupees.
Percentage increase = (1.7 ÷ 92.7) × 100 = 1.8338...%, which rounds to 1.83%.
Cross-check
Increasing 92.7 by 1.83% gives 92.7 × 1.0183 = 94.39641, which rounds to 94.4. Thus the required percentage is 1.83%.