Question

The annual income of Ramesh is rupees 276000. Find his income in 15 months. In how many years will he earn rupees 828000.

Answer 1

Retirement does not necessarily have to mean working till 60 or the maximum edibility age of your company. Provided you have put away enough funds, you can take an early retirement or a VRS, or just try and figure out if you currently have enough to retire from your current occupation.
It is at this stage that you build your retirement and estate planning strategies. Let us delve further into this, and understand the dynamics of 'income support mathematics'.
Your strategies depend on two important factors:
The age at which you can retire out of workIf your savings are enough to let you retire today.These factors are in turn dictated by the following parameters:
The income support you seekThe savings that you haveThe investment budget that you currently haveThe time frame that you have to retireThe rate of inflationThe risk you wish to take during retirementThe risk you wish to take before retirement

Answer 2

We need to know how much he earns per month
Monthly Income = Annual Income / 12
= 276000/12
= 23000 Rupees

Therefore in 15 Months = 23000*15 = 345000 Rupees

The years he will earn 828000 = 828000/276000 = 3 years