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28 Jun 2018, 00:18
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A
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Question Stats:
67% (04:10) correct
33%
(03:19)
wrong
based on 3
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Two persons A & B bought land for Rs 2 lac and Flat for Rs 2.2 Lac respectively, The price of the flat rises by 10% and that of land rises by 20% every year. If they exchange their assets after 2 years find the % profit of the gainer.
A- 8.19% B- 4.34% C- 12% D-19%
A- 8.19% B- 4.34% C- 12% D-19%
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28 Jun 2018, 00:38
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Solution
Given:
- • Two persons A & B bought land for Rs 2 lac and Flat for Rs 2.2 Lac respectively
• The price of the flat rises by 10% every year
• The price of land rises by 20% every year
• A and B exchange their assets after 2 years
To find:
- • The profit percentage of the gainer
Approach and Working:
Initially the price of the land was 200,000 and it increased by 20% every year
- • Therefore, price of land after 2 years = 200000 * 1.2 * 1.2 = 288000
Initially the price of the flat was 220000 and it increased by 10% every year
- • Therefore, price of flat after 2 years = 220000 * 1.1 * 1.1 = 266200
Therefore, the amount of profit made by the gainer = 288000 – 266200 = 21800
As the assets were exchanged,
- • The profit percentage = \(\frac{21800}{266200} * 100\) = 8.189%
Hence, the correct answer is option A.
Answer: A
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