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Average price of gold per in the year 2020 was Rs. 4800. Average price of gold per gram in the year 2021 was 8% more than the price in the previous year. Average price of gold per gram in the year 2022 was 5% more than the price in the previous year. If Jamshid bought 10 grams of gold in the year 2020 and sold it in the year 2022, what is the profit made by him?Question 20Answera. Rs. 6732b. Rs. 6000c. Rs. 5432d. Rs. 6432

Question

Average price of gold per in the year 2020 was Rs. 4800. Average price of gold per gram in the year 2021 was 8% more than the price in the previous year. Average price of gold per gram in the year 2022 was 5% more than the price in the previous year. If Jamshid bought 10 grams of gold in the year 2020 and sold it in the year 2022, what is the profit made by him?Question 20Answera. Rs. 6732b. Rs. 6000c. Rs. 5432d. Rs. 6432

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Solution

First, let's calculate the average price of gold per gram in 2021. It was 8% more than the price in 2020, which was Rs. 4800. So, the price in 2021 would be:

4800 + (8/100)*4800 = Rs. 5184

Next, let's calculate the average price of gold per gram in 2022. It was 5% more than the price in 2021. So, the price in 2022 would be:

5184 + (5/100)*5184 = Rs. 5443.2

Jamshid bought 10 grams of gold in 2020, so he spent:

10 * 4800 = Rs. 48000

He sold the 10 grams of gold in 2022, so he received:

10 * 5443.2 = Rs. 54432

The profit made by him is the selling price minus the cost price:

54432 - 48000 = Rs. 6432

So, the answer is d. Rs. 6432.

This problem has been solved

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