Question
What is the amount that Sumit spends annually on paying
his loan instalments? Study the following information carefully and answer the following questions. Mr. Sumit earns an annual income of 18 lakh. Every month he saves 30% of his monthly income. 20% of the remaining amount of his monthly income he spends on paying his loan instalments. He spends 25% of his monthly income by paying various bills and spends 30% of his monthly income on other household expenses. He gives the remaining amount of his monthly income to his family.Solution
Monthly income Sumit = 18,00,000/12 = Rs. 1,50,000 Monthly savings = 1,50,000 × 30/100 = Rs. 45,000 Monthly loan instalments = (1,50,000 – 45,000 ) × 20/100= Rs. 21,000 Various bills = 1,50,000 × 25/100 = Rs. 37,500 Household expenses = 1,50,000 × 30/100 = Rs. 45,000 Monthly income given to his family = 1,50,000 – 45,000 – 21,000 – 37,500 – 45,000 = Rs. 1500 Loan Instalments = 21000 × 12 = Rs. 2,52,000
In a leveraged buyout (LBO), what is the primary source of funds used for the acquisition of a company?
Which of the following is/are “inflation measuring indices” in India?
1. Consumer price index
2. Wholesale price index
...
How much loan did Fusion Micro Finance obtain from the United States International Development Finance Corporation (DFC)?
A monthly self-declaration to be filed for furnishing summarized details of all outward supplies made, input tax credit claimed, tax liability ascertai...
A Sub-standard asset is a non performing asset that has remained non-performing for a period __ __________
A manager is expected to solve problems and handle disturbances in the organisation. It is ____ role of a manager.
What is the minimum paid-up share capital to incorporate a Nidhi company?
Which of the following decisions do not affect the Free Cash Flow to equity?
Conscientiousness measures what aspect of a person's personality?
What is the maximum overdraft that can be provided by a bank to account holder of the Pradhan Mantri Jan Dhan Yojna ?
Relevant for Exams:
