Question

Question # 38
I have bought a second-hand car for Rs. 2,50,000. I have to pay 2% of the purchase price towards
annual maintenance cost and an annual tax of Rs. 2,000. At what monthly rent should I lend the car to
a taxi driver to get a 15% return on net investment of one year?
?​

Answer 1

Sorry... Its to hard..

Answer 2

Answer: Rs. 3,212.50

Explanation:

Given,

• CP = 2,50,000

• Annual maintenance = 2% ( CP )  = $\frac{2}{100} *250000$ = 5000
• Tax = 2000  

ATQ:-  

Total investment = 250000 + 5000 + 2000 = 257000

To get yearly rent 15% of total investment  = $\frac{15}{100} *257000$ = 38550

 ∴ Monthly rent =  $\frac{38550}{12} = 3212.50$ Ans