Question

On retirement a person gets 1.53 lakhs of his pf which he invests in a scheme at 20% p.A. His monthly income

Answer 1

Answer:

Monthly income=₹ 2550.

Explanation:

Given,P=1,53,000. T=1year,. R=20%

Using the formula, SI=PxTxR/100 Monthly income=153000x1x20=₹ 2550

12x100

Answer 2

A person's monthly income is Rs 2550.

Explanation:

Given: On retirement a person's

           part of his pf = 1.53 lakh = 153000

           Rate = 20% (invested in a scheme)

           Time = 1 month = 1 / 12 year

To find: Mionthly income = ?

Solution;  By using formula,

Income = (p × R × t) / 100

By substituting the given values in the above equation,

∴ Monthly income = (153000 × 20 × 1/12) / 100

                              = (3060000 /12) / 100

                              = 250000 / 100

                              = 2550

∴ A person's monthly income is Rs 2550.