Question

A man deposited 25% of his salary to a bank which offers

Q: Answer-A man deposited 25% of his salary to a bank which offers compound interest at the rate of 10% p.a. I...

Let the amount of money deposited in the bank be Rs. x. So, x 1.12 1 3360 0.21x 3360, x 16000 So, monthly income of man 160000.25 Rs. 64000 Required monthly expenditure of man 54 of 64000 Rs. 34560

compound interest at the rate of 10% p.a. If the interest earned by him from the bank after 2 years is Rs. 3360, find the monthly expenditure of the man which is 54% of his monthly salary.

A Rs. 34560

B Rs. 26500

C Rs. 55000

D Rs. 15600

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