Mr. Sanjay Sharma, a businessman had some income in the year 2000, such that he earned...

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Mr. Sanjay Sharma, a businessman had some income in the year 2000, such that he earned a profit of 20% on his investment in the business. In the year 2001, his investment was less by Rs. 5 lakh but still had the same income (Income Investment + Profit) as that in year 2000. Thus the percent Profit earned in year 2001 increased by 6 percentage point. What was his investment in year 2000? %3! 1. Rs. 10200000 2. Rs. 10500000 3. Rs. 15050000 4. Data inadequate 5. None of these Mr. Sanjay Sharma, a businessman had some income in the year 2000, such that he earned a profit of 20% on his investment in the business. In the year 2001, his investment was less by Rs. 5 lakh but still had the same income (Income Investment + Profit) as that in year 2000. Thus the percent Profit earned in year 2001 increased by 6 percentage point. What was his investment in year 2000? %3! 1. Rs. 10200000 2. Rs. 10500000 3. Rs. 15050000 4. Data inadequate 5. None of these

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Solution 2 Let the investment be a Given a businessman had some income in the year 2000 such th... View the full answer