Question : The annual salary of Aniket increased from Rs. 1000000 to Rs. 1400000. What is the percent increase?
Option 1: 14%
Option 2: 40%
Option 3: 20%
Option 4: 4%
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Correct Answer: 40%
Solution :
Using the formula,
$\text{Percent Increase} = \frac{\text{Final Value} - \text{Initial Value}}{\text{Initial Value}} \times 100$
Substituting the given values into the formula,
$\text{Percent Increase} = \frac{1400000 - 1000000}{1000000} \times 100 = 40$%
Hence, the correct answer is 40%.
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