Question

An accommodation in an apartment costs Rs. 42 lakh. After 6 months, there was a 10% price hike, the new cost is:

• A. 42,20,000
• B. 46,20,000
• C. 44,20,000
• D. 44,60,000

Answer 1

The correct option is B

46,20,000

Given, initial cost = Rs. 42 lakh
The price hike is 10%. So, 10% of Rs. 42 lakhs i.e. Rs. 42,00,000 would give you the price hike.
$\therefore \frac{10}{100}\times$ Rs. 42,00,000 = Rs. 4,20,000.

So, adding this amount to the initial price i.e. Rs. 42 lakhs would give you the new price.
$\therefore$ New price = Initial price + Price hike
= Rs. 42,00,000 + Rs. 4,20,000
= Rs. 46,20,000