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CAT 1996 | Question: 175

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The first table gives the percentage of students in the class of M.B.A who sought employment in the areas of Finance, Marketing and Software. The second table given the average starting salaries of the students per month, in these areas.

The average annual rate at which the initial salary offered in Software, increases

  1. $21$%
  2. $33$%
  3. $16.3$%
  4. $65$%

2 Answers

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The average annual rate at which the initial salary offered in Software, increases is

1/4 ( 8640-5290/5290) * 100 = 15.83% = 15.9%

thus closest match is 16.3 %

answer is option c
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In $1992$, average starting salaries offered to software students = $Rs. 5,290/month$

In $1996$, average starting salaries offered to software students = $Rs. 8,640/month$

∴ Total increase in $4$ years = $(8640-5290) = 3350$

∴ Percentage increase = $\dfrac{3350}{5290} = 63.32\%$

∴ Average per year increase = $\dfrac{63.32}{4}\% = 15.83\%$
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