The income of a company increases 30% per annum. If its income is Rs 26,64,000 in the year 1999, what was its income in the year 1997? Options:
A) Rs.15,68,542 B) Rs.16,55,423 C) Rs.15,76,331 D) Rs.16,76,331 E) none of these
We have P = 2664000, R = 30 and n = 2   Therefore Company’s income in 1977   = P/(1 + (R/100))n = 2664000/(1 + (30/100))2   = Rs 15,76,331.   ANSWER:Rs.15,76,331
<result>C</result>
The income of a company increases 30% per annum. If its income is Rs 26,64,000 in the year 1999, what was its income in the year 1997?