Mahesh gets a 2% increase in his sale amount in the first year and a 20% increase in the second year, and with that his present sale is ₹1,90,400. What was his sale (in ₹) two years ago? (Rounded off to two decimal places.)​

Correct option is C

Given:

1st year: 2% increase

2nd year: 20% increase

Present sale = ₹1,90,400 

Solution: 

Value two year ago:

= $$190400 \times \frac{100}{102}\times\frac{100}{120}$$ 

= ₹1,55,555.56