A firm's sales were Rs. 400 crore in 2022, Rs. 480 crore in 2023 and Rs. 384 crore in 2024. What was the percentage growth from 2022 to 2023?
Answer and explanation
Correct answer: C. 20%
- Step 1: Growth = (480 − 400) ÷ 400 × 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. 80% is what you get if you report the rise in crore as a percentage. -4% is what you get if you measure the growth up to 2024 instead.
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