A man deposited 25% of his salary to a bank which offers
compound interest at the rate of 10% p.a. If the interest earned by him from the bank after 2 years is Rs. 3780, find the monthly expenditure of the man which is 56% of his monthly salary.
ARs. 38080Correct AnswerIncorrect Answer
BRs. 44880Correct AnswerIncorrect Answer
CRs. 47700Correct AnswerIncorrect Answer
DRs. 40320Correct AnswerIncorrect Answer
ERs. 26125Correct AnswerIncorrect Answer
Solution
Let the amount of money deposited in the bank be Rs. ‘x’. So, x × [(1.1)2 – 1] = 3780 0.21x = 3780, x = 18000 So, monthly income of man = 18000/0.25 = Rs. 72000 Required monthly expenditure of man = 56% of 72000 = Rs. 40320
