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The price of a house was Rs 34,000 last year. It has increased by 20% this year. What is the price now?

  • a)
    Rs 40,400

  • b)
    Rs 40,800

  • c)
    Rs 30,40,000

  • d)
    Rs 30,80,00

Correct answer is option 'B'. Can you explain this answer?
Verified Answer
The price of a house was Rs 34,000last year. It has increased by 20% t...
Thus, the price now is 40,800 Rs.
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Most Upvoted Answer
The price of a house was Rs 34,000last year. It has increased by 20% t...
Solution:

Given that the price of the house last year was Rs 34,000 and it has increased by 20% this year.

We need to find the price of the house now.

Let’s solve this problem step by step.

1. Calculate the increase in the price of the house this year.

Increase in price = 20% of the price last year
Increase in price = 20/100 x 34,000
Increase in price = 6,800

2. Add the increase in price to the price last year to get the current price of the house.

Current price = Price last year + Increase in price
Current price = 34,000 + 6,800
Current price = 40,800

Therefore, the price of the house now is Rs 40,800.

Hence, option (B) is the correct answer.
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Community Answer
The price of a house was Rs 34,000last year. It has increased by 20% t...
The correct answer of this question is (b) bcoz.. In last year the value of house is 34 lakhs but now it was increased by 20% than the last year. So firstly,we calculate 20% of 34 lakh and then the comes 20% amount we add in 34 lakh so, after this we found the actual value of house.

Working Notes-
3400000 * 20/100= 680000
3400000+680000 = 4080000
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The price of a house was Rs 34,000last year. It has increased by 20% this year. What is the price now?a)Rs 40,400b)Rs 40,800c)Rs 30,40,000d)Rs 30,80,00Correct answer is option 'B'. Can you explain this answer?
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