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SSC Sample Paper Mock Test-5 SSC CGL Tear-II Paper-1

  • question_answer
    Mr. Satish Gujral, a businessman had the income in the year 2000, such that he earned a profit of 20% on his investment in the business. In the year 2001, his investment was less by Rs. 5 lakh but still had the same income (Income = Investment + Profit) as that in year 2000. Thus the per cent profit earned in year 2001 increased by 6%. What was his investment in year 2000?

    A)  1020000                      

    B)  Rs.1050000

    C)  1505000                      

    D)  Data inadequate

    Correct Answer: B

    Solution :

    Investment and Income in 2000 = Rs. x and Rs. 1.20x Investment and Income in 2000                 = Rs. \[(x-50000)\]and\[1.20x\] \[\therefore \]      Profit \[=20+6=26%\] Income in 2001= Rs.  \[(x-50000)\times (1.00+0.26)\] Thus, \[1.26\,\,(x-50000)=1.20x\] x = Rs.1050000


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