Mr X, a businessman, had income in the year 1995 such that he earned a profit of 20% on his investment in the business. In the year 1996 his investment was less by 3000 but still had the same income (Income = Investment + Profit) as that in 1995. Thus the per cent profit earned in 1996 increased by 6%. What was his investment in 1995?	Select:
A) 100000
B) 100500
C) 63000
D) Data inadequate
E) None of these
Let the investment of X in 1995 be x.   ∴ Profit = x⁄5   ∴ Income = (x + x⁄5) = 6⁄5x   Investment of company X in 1996 would be (x – 3000) From the question,   (x - 3000) × 126⁄100 = 6⁄5x ⇒ x = 63000   Answer 63000
<result>C</result>
Mr X, a businessman, had income in the year 1995 such that he earned a profit of 20% on his investment in the business. In the year 1996 his investment was less by 3000 but still had the same income (Income = Investment + Profit) as that in 1995. Thus the per cent profit earned in 1996 increased by 6%. What was his investment in 1995?