Instructions
Study the following graph to answer the given question.
% Profit=$$\frac{Income - Expenditure}{Expenditure}\times100$$
Question 146
For Company X, its income in 2001-02 was equal to its expenditure in 2002-03. What was the ratio of its respective incomes in these two years ?
Solution
Let the income for 2001 -02 and expenditure for 2002 - 03 be x
We use the formula, %profit = 100* (I- E)/E
So, for 2001- 02, we have
40 = 100 * (x - e)/e
For 2002 - 03, we have
50 = 100 * (I - x)/x
So, I = 1.5x
So, x/I = 2/3
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