A company increases every year salary of an officer by 20%. His salary in the year 2001 was Tk. 26,640. What was his salary in 1999?
A company increases every year salary of an officer by 20%. His salary in the year 2001 was Tk. 26,640. What was his salary in 1999? Correct Answer Tk. 18,500
Let the Salary of an officer = x in 1999 In 2000, his salary increased by 20% His salary is 120% of x = y let say In 2001, Salary = Tk. 26640 His salary increased by 20% from previous year salary Now his salary is 120% of y. Substituting value of y, we get ⇒120%of(120% of x) ⇒100120×100120×x = 26640 ⇒1.44×x = 26640 ⇒x = Tk. 1.4426640 = Tk. 18,500