The price of milk was increased by 15% last year and this year, there is again an increment of 12% in the price. Two years ago, the price was ₹60, now the price of the milk is ₹________.

Correct option is D

Given:

Price of milk two years ago = ₹60

Price increment last year = 15%

Price increment this year = 12%

Formula Used:

New price = Old price × $$\left (1 + \frac {\text{Percentage increase}}{100} \right )$$​​

Solution:

Price after the first increment :

New price = 60 × $$\left (1 + \frac {15}{100}\right)$$​​
New price = 60 × 1.15
New price = ₹69

Price after the second increment:
New price = 69 × $$\left (1 + \frac {12}{100}\right)$$​​
New price = 69 × 1.12
New price = ₹77.28

The current price of the milk is ₹77.28.