Mr Sarang invests 6% of his monthly salary, which amounts to Rs 2,100, in…
2024
Mr Sarang invests 6% of his monthly salary, which amounts to Rs 2,100, in insurance policies. He also invests 8% of his monthly salary in family mediclaim policies and another 9% of his salary in NSC (National Savings Certificate). What is the total annual amount invested by Mr Sarang?
Answer: B. Rs 96,600 — Concept: If a known amount equals a given percentage of an unknown base, the base can be recovered as Base = Value × 100 / Percentage. When several different…
- A.
Rs 11,400
- B.
Rs 96,600
- C.
Rs 8,050
- D.
Rs 9,500
Attempted by 28 students.
Show answer & explanation
Correct answer: B
Concept: If a known amount equals a given percentage of an unknown base, the base can be recovered as Base = Value × 100 / Percentage. When several different percentages of the same base are invested, their combined share is simply the sum of the percentages taken once on that base, and a monthly figure is converted to an annual one by multiplying by 12.
6% of Mr Sarang's monthly salary equals Rs 2,100, so the monthly salary = 2,100 × 100 / 6 = Rs 35,000.
The three investments together account for 6% + 8% + 9% = 23% of the monthly salary.
Monthly investment = 23% of Rs 35,000 = 35,000 × 23 / 100 = Rs 8,050.
Annual investment = monthly investment × 12 = 8,050 × 12 = Rs 96,600.
Cross-check: computing each scheme separately confirms the total — 6% of Rs 35,000 = Rs 2,100 (insurance), 8% of Rs 35,000 = Rs 2,800 (mediclaim), and 9% of Rs 35,000 = Rs 3,150 (NSC); their sum, Rs 8,050 per month, multiplied by 12 gives the same result.
So Mr Sarang's total annual investment is Rs 96,600.