On his retirement , Mustafa deposited Rs 3000000 in a fixed deposit at 10% p.a. If 24% deducted as income tax on the interest earned, find his quarterly income.
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Answer:
57,000
Step-by-step explanation:
principal 30,00,000
interest = PTR/100
I=( 30,00,000×1×10%)/ 100
I= 3,00,000
24% of deducted in 3,00,000
so the income per year is 76% of 3,00,000
2,28,000
quarterly income = yearly income/4
228000/4
57,000
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