A firm's sales were Rs. 500 crore in 2021, Rs. 600 crore in 2022 and Rs. 660 crore in 2023. What was the percentage growth from 2021 to 2022?
Answer and explanation
Correct answer: C. 20%
- Step 1: Growth = (600 − 500) ÷ 500 × 100. Step 2. = 20%. Answer: 20%. Why not the others: 16.7% is what you get if you divide the rise by the later value. 100% is what you get if you report the rise in crore as a percentage. 32% is what you get if you measure the growth up to 2023 instead.
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