Question : If Chetan's present income is INR 40,000 and it increases by 1% annually, then what will be his income 2 years from now?
Option 1: INR 50,800
Option 2: INR 58,000
Option 3: INR 40,804
Option 4: INR 44,854
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Correct Answer: INR 40,804
Solution : Use : Amount = P(1 + R%)t, where R = Rate (in decimal) P = Principal t = time in years According to the question Amount = 40000(1+0.01)2 = 40000(1.0201) = 40804 Hence, the correct answer is INR 40,804
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Question : Ram invested 45% of his salary in a scheme for 3 years which offers 10% per annum compound interest, compounded annually. If he receives INR 5,958 as total interest, then find Ram's salary.
Option 1: INR 45,000
Option 2: INR 50,000
Option 3: INR 36,000
Option 4: INR 40,000
Question : The monthly income of a person is INR 15,000. He saves 20% of his income. If his income increases by 10% and his nominal savings remain the same, then what will be his new expenditure?
Option 1: INR 13,000
Option 2: INR 14,500
Option 3: INR 13,500
Option 4: INR 14,000
Question : The monthly income of a person was INR 40,000. He used to save 25% of his income. His nominal income increases by 15% and his nominal expenditure increases by 20%. What is the percentage change in his nominal savings?
Option 1: 7.5%
Option 2: 0%
Option 3: 5%
Option 4: 10%
Question : The population of a town increases at the rate of 20% per annum. If the town's population will be 69,120 after 2 years, then what is the town's present population?
Option 1: 48,000
Option 2: 42,000
Option 3: 40,000
Option 4: 36,000
Question : Mayank spends 35% of his monthly income on household items, 25% on electronic items, and 7% on medicines. He saves the remaining amount of INR 11,550. What is Mayank's monthly income (in INR)?
Option 1: INR 38,000
Option 2: INR 35,000
Option 3: INR 40,000
Option 4: INR 33,000
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