Problem Solving

The total of Company C's assets in 1994 was 300 percent greater than the total in 1993, which in turn was 400 percent greater than the total in 1992. If the total of Company C's assets in 1992 was N dollars, which of the following represents tht total of Company C's assets, in dollars, in 1994?

A) 7N
B) 8N
C) 9N
D) 12N
E) 20N

Ans:E

I need to know what is wrong in my approach below:
.........................

Let the total in 93 be 100
Then the total in 94 becomes 400(300% greater)
Now,it's said that the total in 94 was 400% greater than 92.so,
Let the total of 92 be x
x +400%x=400
x=80

so now we have the totals:
92:80
92:100
94:400

now,the question states that 80 = N
therefore total of 94, 400= 5N

hmmm..?

Now,it's said that the total in 94 was 400% greater than 92.

That's where you're wrong. Notice the wording of the question, it says that, "The total of Company C's assets in 1994 was 300 percent greater than the total in 1993, which in turn was 400 percent greater than the total in 1992."

This means that the total of company C's assets in 1993 was 400% greater than the total in 1992.

So if you said that in 1993, the total was 100, then in 1992 the total would be 20. So, if 20=N, then 400 equal what in terms of N? The answer is 20N.

N = 100% = 1992 of N

4N + N = 5N = 400%

5N = Now 100% = 1993 of N

5N + 3(5N) = 20N = 300% = 1994 of N