Question
Two years ago the ratio of annual salary of three
friends P, Q and R is 4 : 3 : 5. Every year since then the salary of P, Q and R increases by 10%, 12% and 50% respectively. If the present monthly salary of P is 19,360, then what was the monthly salary of R one year ago?Solution
Let annual salary of P, Q and R two years ago be 4x, 3x and 5x respectively. Present salary of P = Rs. 19,360 (given) ∴ 4x× 110/100×110/100 × 1/12 = 19,360 ⟹ 121x/300 = 19360        ∴ x = (19360 ×  300)/121 ∴ x = Rs. 48,000 ∴ R’s annual salary two years ago = 5x = 5 × 48,000 = Rs. 2,40,000 p.a. ∴ R’s annual salary one years ago = 2,40,000 × 150/100 = Rs. 3,60,000 p.a. ∴ R’s monthly salary one year ago = 360000/12 = Rs. 30,000 p.m.
Which of the following best describes the short-run Aggregate Supply (AS) curve in the presence of sticky wages?
In a market economy
What is the tenor of the Sovereign Gold Bond (SGB) bond, and when is early encashment/redemption allowed?Â
A country is said to be in debt trap if
Given the demand function QD=100−2P and the supply function QS=3P−50, where QD is the quantity demanded, QS is the quantity supplied, and P is the p...
The concept of vicious circle of poverty is associated with
Based on the IS curve and LM curve you have derived in Q36 and Q37, what is the equilibrium income?
If a country's Lorenz Curve shifts closer to the line of perfect equality (the 45-degree line), which of the following is the most likely corresponding ...
The Lucas Critique asserts _______
It is given that Qd = 300 - P, Qs = Q/2. Government imposes specific tax in such a way that it maximizes the total tax revenue. Then find out the DWL in...
Relevant for Exams:
