Q:
Sushma joins a job at 20 yrs. First 3 years salary is 10,000 p.a. Afterwards every year increment of 2,000 per year for 10 years. Then salary becomes constant till retirement. At retirement average salary is 25,000. (throughout career). At what age Sushma retires ?
Answer & Explanation
Answer: A) 50 yrs
Explanation: Let age of retirement = S
so according to the given condition 25000(x-20)
=10000 x 3 + 12000 + 14000 + 16000 + 18000 + 20000 + 22000 + 24000 + 26000 + 28000 + 30000 + 30000(S-33)
= 30000 + 210000 + 30000S-990000
= 30000S - 750000
or 25000S - 500000 = 30000x - 750000
or 5000x = 250000
or S = 50 yrs.
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