2020 · Q27
The price of an article X increases by 20% every year and price of article Y increases by 10% every year. In the year 2010, the price of article X was Rs. 5000 and price of article Y was Rs. 2000. In which year the difference in their prices exceeded Rs. 5000 for the first time?
Elementary MathematicsPercentages
- A2012
- B2013
- C2014
- D2015
Explanation
After t years from 2010, prices are 5000·1.2ᵗ and 2000·1.1ᵗ. The difference is 3800 for t = 1 (2011), 4780 for t = 2 (2012), and 5978 for t = 3 (2013). It first exceeds 5000 in 2013.