The growth in total revenue in 2023 in comparison to the year 2020 is…
2024
The growth in total revenue in 2023 in comparison to the year 2020 is approximately
Answer: C. 15% — ConceptPercentage growth between two years compares the increase with the earlier (base) year: growth % = (later-year value − base-year value) ÷ base-year…
- A.
21%
- B.
28%
- C.
15%
- D.
11%
Show answer & explanation
Correct answer: C
Concept
Percentage growth between two years compares the increase with the earlier (base) year: growth % = (later-year value − base-year value) ÷ base-year value × 100.
When the comparison is on total revenue, the value for each year is the sum of every revenue stream listed for that year, so each year is first totalled before the two are compared.
Application
Revenue in ₹ lakh for the two years being compared:
Year | Journals | Magazines | Books | Total |
|---|---|---|---|---|
2020 | 45 | 35 | 70 | 150 |
2023 | 40 | 54 | 79 | 173 |
Total revenue in 2020 = ₹45 lakh + ₹35 lakh + ₹70 lakh = ₹150 lakh.
Total revenue in 2023 = ₹40 lakh + ₹54 lakh + ₹79 lakh = ₹173 lakh.
Increase from 2020 to 2023 = ₹173 lakh − ₹150 lakh = ₹23 lakh.
Growth = (₹23 lakh ÷ ₹150 lakh) × 100 = 15.33% approximately.
Rounding 15.33% to the nearest offered value gives 15%.
Cross-check
Adding 15% of ₹150 lakh to the 2020 total gives ₹150 lakh + ₹22.5 lakh = ₹172.5 lakh, which is close to the tabulated 2023 total of ₹173 lakh; the small gap is the rounding.
Contrast with the single-stream changes, which the question does not ask for:
Journals fall from ₹45 lakh to ₹40 lakh, a decrease of about 11%.
Magazines rise from ₹35 lakh to ₹54 lakh, an increase of about 54%.
Books rise from ₹70 lakh to ₹79 lakh, an increase of about 13%.
The question compares the combined revenue of all three streams, so the growth in total revenue in 2023 over 2020 is approximately 15%.