Banking Exams Exam  >  Banking Exams Questions  >   There is a 30% increase in the price of an a... Start Learning for Free
There is a 30% increase in the price of an article in the first year, a 20% decrease in the second year and a 10% increase in the next year. If the present price of the article is Rs.2288, then what was the price 3 years ago?
  • a)
    Rs.1500
  • b)
    Rs.2000
  • c)
    Rs.1800
  • d)
    Rs.1600
  • e)
    Rs.2400
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
There is a 30% increase in the price of an article in the first year,...
Let the price of the article initially be rs.100
In the 1st year, price of the article = 100+30 = 130
In the 2nd year, price = 130 = 20% of 130 = 130-26 = 104
In the 3rd year, price = 104+10% of 104 = 114.40
But present price = 2288
Required price = 2288*100/114.4
= 2000
Free Test
Community Answer
There is a 30% increase in the price of an article in the first year,...
Given:
- 30% increase in the price of an article in the first year
- 20% decrease in the second year
- 10% increase in the next year
- Present price of the article is Rs. 2288

To find:
- The price of the article 3 years ago

Solution:
Let's assume the price of the article 3 years ago was x.

Year 1:
- 30% increase in the price of the article
- New price = x + (30/100)x = x + 0.3x = 1.3x

Year 2:
- 20% decrease in the price of the article
- New price = 1.3x - (20/100)(1.3x) = 1.3x - 0.26x = 1.04x

Year 3:
- 10% increase in the price of the article
- New price = 1.04x + (10/100)(1.04x) = 1.04x + 0.104x = 1.144x

Given that the present price of the article is Rs. 2288, we can equate it to the price after 3 years:

1.144x = 2288

Dividing both sides by 1.144:
x = 2288 / 1.144
x = 2000

Therefore, the price of the article 3 years ago was Rs. 2000.

Hence, the correct answer is option 'B' (Rs. 2000).
Explore Courses for Banking Exams exam

Similar Banking Exams Doubts

There is a 30% increase in the price of an article in the first year, a 20% decrease in the second year and a 10% increase in the next year. If the present price of the article is Rs.2288, then what was the price 3 years ago?a)Rs.1500b)Rs.2000c)Rs.1800d)Rs.1600e)Rs.2400Correct answer is option 'B'. Can you explain this answer?
Question Description
There is a 30% increase in the price of an article in the first year, a 20% decrease in the second year and a 10% increase in the next year. If the present price of the article is Rs.2288, then what was the price 3 years ago?a)Rs.1500b)Rs.2000c)Rs.1800d)Rs.1600e)Rs.2400Correct answer is option 'B'. Can you explain this answer? for Banking Exams 2024 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about There is a 30% increase in the price of an article in the first year, a 20% decrease in the second year and a 10% increase in the next year. If the present price of the article is Rs.2288, then what was the price 3 years ago?a)Rs.1500b)Rs.2000c)Rs.1800d)Rs.1600e)Rs.2400Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Banking Exams 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for There is a 30% increase in the price of an article in the first year, a 20% decrease in the second year and a 10% increase in the next year. If the present price of the article is Rs.2288, then what was the price 3 years ago?a)Rs.1500b)Rs.2000c)Rs.1800d)Rs.1600e)Rs.2400Correct answer is option 'B'. Can you explain this answer?.
Solutions for There is a 30% increase in the price of an article in the first year, a 20% decrease in the second year and a 10% increase in the next year. If the present price of the article is Rs.2288, then what was the price 3 years ago?a)Rs.1500b)Rs.2000c)Rs.1800d)Rs.1600e)Rs.2400Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for Banking Exams. Download more important topics, notes, lectures and mock test series for Banking Exams Exam by signing up for free.
Here you can find the meaning of There is a 30% increase in the price of an article in the first year, a 20% decrease in the second year and a 10% increase in the next year. If the present price of the article is Rs.2288, then what was the price 3 years ago?a)Rs.1500b)Rs.2000c)Rs.1800d)Rs.1600e)Rs.2400Correct answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of There is a 30% increase in the price of an article in the first year, a 20% decrease in the second year and a 10% increase in the next year. If the present price of the article is Rs.2288, then what was the price 3 years ago?a)Rs.1500b)Rs.2000c)Rs.1800d)Rs.1600e)Rs.2400Correct answer is option 'B'. Can you explain this answer?, a detailed solution for There is a 30% increase in the price of an article in the first year, a 20% decrease in the second year and a 10% increase in the next year. If the present price of the article is Rs.2288, then what was the price 3 years ago?a)Rs.1500b)Rs.2000c)Rs.1800d)Rs.1600e)Rs.2400Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of There is a 30% increase in the price of an article in the first year, a 20% decrease in the second year and a 10% increase in the next year. If the present price of the article is Rs.2288, then what was the price 3 years ago?a)Rs.1500b)Rs.2000c)Rs.1800d)Rs.1600e)Rs.2400Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice There is a 30% increase in the price of an article in the first year, a 20% decrease in the second year and a 10% increase in the next year. If the present price of the article is Rs.2288, then what was the price 3 years ago?a)Rs.1500b)Rs.2000c)Rs.1800d)Rs.1600e)Rs.2400Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice Banking Exams tests.
Explore Courses for Banking Exams exam

Top Courses for Banking Exams

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev