The following table shows the Income (in lakh) and percentage (%) profit of a company over the six years from 2017 to 2022. Based on the data in the table, answer the questions that follow.
Year-wise Income and Profit of a Company
| Year | Income (in ₹ lakh) | Profit (%) |
| 2017 | 120 | 7.5 |
| 2018 | 160 | 15 |
| 2019 | 130 | 22.5 |
| 2020 | 170 | 17.5 |
| 2021 | 190 | 20 |
| 2022 | 150 | 27.5 |
The positive increase in percent profit in comparison to the previous year was minimum in the year
Correct Answer :
2021
Solution :
The correct option is 2021.
Let's find the positive increase in the profit percentage (%) in comparison to its previous year for each of the given years. The table provides the Profit (%) for each year as follows:
- 2017: 7.5%
- 2018: 15%
- 2019: 22.5%
- 2020: 17.5%
- 2021: 20%
- 2022: 27.5%
Now, let's calculate the changes in profit percentage compared to the previous year:
1. For the year 2018 (compared to 2017):
Increase in profit % = 15 - 7.5 = 7.5% (This is a positive increase)
2. For the year 2019 (compared to 2018):
Increase in profit % = 22.5 - 15 = 7.5% (This is a positive increase)
3. For the year 2020 (compared to 2019):
Change in profit % = 17.5 - 22.5 = -5% (This is a decrease, not a positive increase)
4. For the year 2021 (compared to 2020):
Increase in profit % = 20 - 17.5 = 2.5% (This is a positive increase)
5. For the year 2022 (compared to 2021):
Increase in profit % = 27.5 - 20 = 7.5% (This is a positive increase)
Comparing the positive increases for the years 2018, 2019, 2021, and 2022:
- 2018: 7.5%
- 2019: 7.5%
- 2021: 2.5%
- 2022: 7.5%
The minimum positive increase in percent profit in comparison to the previous year is 2.5%, which occurred in the year 2021.
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