A company’s profit have doubled for each of the last 5 years. If the total profits for the last 5 years were tk 62 million, what were the profit in the first year?

A company’s profit have doubled for each of the last 5 years. If the total profits for the last 5 years were tk 62 million, what were the profit in the first year?

A 1

B 2

C 3

D 4

Solution

Correct Answer: Option B

Let, first year profit=x

As profit have doubled for each year, so

2nd year profit=2x

3rd year profit=4x

4th year profit=8x

5th year profit=16x

total profit=31x

According to ques,

31x=62

x=2