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Get access to the detailed solutions to the previous years questions asked in IIFT exam
Explanation:
Let 100 be the value in 2008.
In 2009 it will become 100*1.18
In 2010 it will become 100*1.18*1.18
In 2011 it will become 100*1.18*1.18*0.88
In 2012 it will become 100*1.18*1.18*0.88*1.18 145
thus, the effect = 45%
Hence, option C is the correct answer.