Question

Mr. Shyam is working in a MNC and earning Rs. 10,00,000 p.a. His wife Mrs. Sarla is working in a bank and earning Rs. 6,00,000 p.a. Mr. Shyam saves 40% and his wife saves 60% per month. Mr. Shyam invests Rs. 4,00,000 p.a. for next 15 years in a fixed income investment option on yearly basis and earning 15% return. Mrs. Sarla pays her total savings to bank against a bank loan of Rs. 30,00,000 @ 7.5% p.a. a) Calculate the total available amount with MrShyam after 15 years.

Answer 1

Answer:

Her monthly Income =30,000 Rs .

She spend 25% of it on grocery, i.e; =

100

25

×30,000

⟹7,500Rs

And spend 20% on rent =

100

20

×30,000

⟹6,000Rs

Money, she spend on both =75,00+6,000=13,500Rs