Suresh opened his factory in 2003.The production of his factory increases for two consecutive years consistently by 12% and in the third year it decreases by 8%. Again in the next two years it increases by 12% each year and decreases by 8% in the third year. What will be the effect on the production of the Company in 2007?
Suresh opened his factory in 2003.The production of his factory increases for two consecutive years consistently by 12% and in the third year it decreases by 8%. Again in the next two years it increases by 12% each year and decreases by 8% in the third year. What will be the effect on the production of the Company in 2007? Correct Answer <p>29%</p>
Given
Increase in production for two consecutive years consistently = 12%
Decrease in production for third year = 8%
Formula used
Percentage = (Value/ total value) × 100
Calculation
Suppose the production of the company in the year 2003 is = x.
Then production of the company in year 2007
⇒ x × 112/100 × 112/100 × 92/100 × 112/100
⇒ 1.29 x
Increase percentage in the production of factory in 2007
⇒ (1.29x – x)/x × 100
⇒ 29%
∴ The production of the Company in 2007 is increased by 29%.