Q:
On retirement, a woman gets Rs. 1,45,440 of her provident fund which she invests in a scheme at 20% per annum. Her monthly income from this scheme will be
Answer & Explanation
Answer: B) Rs. 2424
Explanation: Now, the principal amount P = Rs. 1,45,440
Rate of interest R = 20%/annum
Now monthly income I = PTR/100 = 1,45,440 x 20 x 1/100 x 12
= 2908800/1200
= Rs. 2424.
Hence, her monthly income = Rs. 2424.
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