If Chetan 39 s present income is Rs40 000 and it increases by 1 annually then what will be his incom...........

Quantitative Aptitude (MTS) Percentage

If Chetan's present income is Rs40,000 and it increases by 1% annually, then what will be his income 2 years from now?

This questions was previously asked in

SSC MTS 25th July 2022 Shift-3

Rs50,800

Rs58,000

Rs40,804

Rs44,854

- Chetan's income increases by 1% annually starting from Rs40,000.

- After the first year, income = 40,000 + (40,000 * 1/100) = Rs40,400.

- In the second year, income = 40,400 + (40,400 * 1/100) = Rs40,804.

- Option 1: Rs50,800 – This amount would require a higher percentage increase.

- Option 2: Rs58,000 – This is much higher than a 1% increase would result in.

- Option 3: Rs40,804 – Correct calculation for 1% annual increase over two years.

- Option 4: Rs44,854 – This represents a larger increase than expected.

? Option 3: Rs40,804 is correct.

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