Question
Download Solution PDFMohan starts a business with a capital of ₹1,70,000. He incurs a loss of 4% during the first year. But he makes a profit of 5% during the second year on his remaining investment. Finally, he makes a profit of 25% on his new capital during the third year. Find his total profit at the end of three years.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Initial capital = ₹1,70,000
Loss in the first year = 4%
Profit in the second year = 5%
Profit in the third year = 25%
Formula Used:
Remaining Capital after loss/profit = Initial Capital × (1 ± loss/profit percentage)
Total Profit = Final Capital - Initial Capital
Calculation:
Capital after first year = ₹1,70,000 × (1 - 4/100)
⇒ ₹1,70,000 × 0.96
⇒ ₹1,63,200
Capital after second year = ₹1,63,200 × (1 + 5/100)
⇒ ₹1,63,200 × 1.05
⇒ ₹1,71,360
Capital after third year = ₹1,71,360 × (1 + 25/100)
⇒ ₹1,71,360 × 1.25
⇒ ₹2,14,200
Total Profit = ₹2,14,200 - ₹1,70,000
⇒ ₹44,200
The total profit at the end of three years is ₹44,200.
Last updated on Dec 9, 2024
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