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Answer to Question #62497 in Accounting for Asif
Question #62497
Zeeshan Co. Ltd’s net income was Rs. 400,000 in 2004 and
Rs. 160,000 in 2005. What percentage increase in net income
must the Co. achieve in 2006 to offset the decline in profits in
2005?
Rs. 160,000 in 2005. What percentage increase in net income
must the Co. achieve in 2006 to offset the decline in profits in
2005?
Expert's answer
$160,000 / %400,000 x 100 - 100 = 60%
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Comments
Answer will be correct in this way 400000÷160000 x 100 - 100 = 150%
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