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The price of an article increases by 15% every year. If at the end of the third year and the fourth year the difference of its values is Rs. 193.20, then which was 90% of its value at the end of the second year:

The price of an article increases by 15% every year. If at the end of the third year and the fourth year the difference of its values is Rs. 193.20, then which was 90% of its value at the end of the second year: Correct Answer Rs 1008

Given:

The price of an article increases by 15% every year

At the end of the third year and the fourth year the difference of its values = 193.20

Calculation:

Let Price of the Article be 100

⇒ At the end of first year, Price = 100 + (100 × (15/100)) = 115

⇒ At the end of second year, Price = 115 + (115 × (15/100)) = 132.25

⇒ At the end of third year, Price = 132.25 + (132.25 × (15/100)) = 152.0875

⇒ At the end of fourth year, Price = 152.08 + (152.08 × (15/100)) = 174.90

Difference between Price at the end of fourth year and third year = 174.90 - 152.0875 = 22.81

Now, 

It is given that at the end of the third year and the fourth year the difference of its values = 193.20

⇒ 22.81 → 193.20

∴ Value at the end of the second year

⇒ 132.25 → (193.20/22.81) × 132.25

⇒ 1120.1534

90% of its value at the end of the second year

⇒ 90% of 1120.1534 = 1008.138

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