CAT Quant Practice Problems

Question: The rate of increase of the price of sugar is observed to be two percent more than the inflation rate expressed in percentage. The price of sugar, on January 1, 1994, is Rs. 20 per kg. The inflation rate for the years 1994 and 1995 are expected to be 8% each. The expected price of sugar on January 1, 1996 would be
  1. Rs.23.60
  2. Rs.24.00
  3. Rs.24.20
  4. Rs.24.60

Correct Option:3

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CAT Quant Practice Problems
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