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
New: SSC MTS 2024 Application Form OUT; Direct Link
Don't Miss: Month-wise Current Affairs | Upcoming Government Exams
New: Unlock 10% OFF on PTE Academic. Use Code: 'C360SPL10'
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
Application | Cutoff | Selection Process | Preparation Tips | Eligibility | Exam Pattern | Admit Card
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?
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.
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?
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?
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)?
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile