In the first month, the income of Mohan increases by 30%. In the second month his income decreases by 30%. What will be percentage increase or decrease in the income after two months?
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15% increase
Incorrect Answer9% increase
Incorrect Answer15% decreases
Incorrect Answer9% decreases
Correct AnswerExplanation:
- Let's consider Mohan's initial income as $100.
- In the first month, his income increases by 30%. So, 30% of $100 is $30. His new income is $100 + $30 = $130.
- In the second month, his income decreases by 30%. So, 30% of $130 is $39. His new income is $130 - $39 = $91.
- Comparing the final income with the initial income: $91 is $9 less than $100.
- Therefore, the overall change is a decrease of $9 from the initial $100.
- This results in a 9% decrease.
Correct Answer is: Option:4 - 9% decrease
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By: Parvesh Mehta