Amount of money spent by Tanu on other expenses is approximately
Direction: Study the given information carefully and answer the following questions accordingly.
Tanu took a loan from a bank to pursue her M.Arch degree from a reputed college in New Delhi. The bank agreed to pay 80% of all her expenses. M.Arch course was a two year course, having four semesters each of 6 months. Tuition fee for each semester was Rs. 2,50,000. She took hostel to stay, her hostel charges were Rs. 5500/per month and extra expenses per month were Rs. 3400.
Based on the given information, answer the following questions.Question 1: Amount of money spent by Tanu on other expenses is approximately what percent less than the annual amount spent by her on rent?
A. 50%
B. 38%
C. 30%
D. 24%
E. 10%
Right Answer is: B
SOLUTION
Total annual expenditure on rent = 12 months × Rs. 5500 = Rs. 66000
Total annual expenditure on other expenses = 12 months × Rs. 3400 = Rs. 40800
∴ Required percentage = (66000 - 40800)/66000 × 100 = 25200 × 100/66000 = 38%
