Register Now

Login

Lost Password

Lost your password? Please enter your email address. You will receive a link and will create a new password via email.

A man buys a truck for Rs. 2,50,000. The annual repair cost comes to 2% of the price of purchase. Besides, he has to pay an annual tax of Rs. 2000. At what monthly rent must he rent out the truck to get a return of 15% on his net invests of the first year?

a) Rs. 3359
b) Rs. 2500
c) Rs. 4000
d) Rs. 3212.5

Answer: d
Explanation: The total cost for the year
= 250000 + 2% of 2500000 + 2000
= Rs. 257000
For getting return of 15% he must earn
= $$\frac{{257000 \times 15}}{{100}}$$
= Rs. 38550 per year
Monthly Rent = $$\frac{{38550}}{{12}}$$
= Rs. 3212.5

Join The Discussion