Mr. Sarang invests 6% of his monthly salary, i.e. Rs 2,100, on insurance…
2024
Mr. Sarang invests 6% of his monthly salary, i.e. Rs 2,100, on insurance policies. Also he invests 8% of his monthly salary on family mediclaim policies and another 9% of his salary on NSCs. What is the total annual amount invested by Mr. Sarang?
- A.
Rs. 11,400
- B.
Rs 96,600
- C.
Rs. 8,050
- D.
Rs 9,500
Attempted by 10 students.
Show answer & explanation
Correct answer: B
Concept: When a percentage of an unknown quantity is given as a fixed amount, the quantity's base value is found by scaling up from the given percentage (base = given amount ÷ given percentage × 100). Once the base is known, any other percentage — or a sum of several percentages — of the same base can be computed directly, and a monthly figure is converted to an annual one by multiplying by the 12 months in a year.
6% of Mr. Sarang's monthly salary equals Rs 2,100, so 1% of his salary equals 2,100 ÷ 6 = Rs 350.
His total monthly investment percentage across all three schemes is 6% + 8% + 9% = 23% of his salary.
The total monthly investment is therefore 23 × Rs 350 = Rs 8,050.
Since the question asks for the ANNUAL amount invested, this monthly figure is multiplied by the 12 months in a year: 8,050 × 12 = Rs 96,600.
Cross-check: Compute each scheme separately from the per-percent value — insurance = 6 × 350 = Rs 2,100 (matches the given data), mediclaim = 8 × 350 = Rs 2,800, and NSCs = 9 × 350 = Rs 3,150. Their monthly sum is 2,100 + 2,800 + 3,150 = Rs 8,050, and 8,050 × 12 = Rs 96,600 — confirming the annual investment of Rs 96,600.
