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
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Correct Answer: Rs. 7700
Solution : Previous price = Rs. 7000 Price increase = 10% $\therefore$ New price = 7000 + (7000 × $\frac{10}{100}$) = 7000 + 700 = Rs. 7700 Hence, the correct answer is Rs. 7700.
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