A firm's sales were Rs. 500 crore in 2020, Rs. 750 crore in 2021 and Rs. 900 crore in 2022. What was the percentage growth from 2020 to 2021?
Answer and explanation
Correct answer: C. 50%
- Step 1: Growth = (750 − 500) ÷ 500 × 100. Step 2. = 50%. Answer: 50%. Why not the others: 33.3% is what you get if you divide the rise by the later value. 250% is what you get if you report the rise in crore as a percentage. 80% is what you get if you measure the growth up to 2022 instead.
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