Question : The price of a bike was Rs. 7000 last year. The price increased by 10% this year. What is the price of the bike this year?
Option 1: Rs. 7400
Option 2: Rs. 7700
Option 3: Rs. 7600
Option 4: Rs. 7500
Correct Answer: Rs. 7700
Solution :
Previous price = Rs. 7000
Price increase = 10%
Hence, the correct answer is Rs. 7700.