On retirement, a woman gets Rs. 1,45,440 of her provident fund which she invests in a scheme at 20% per annum. Her monthly income from this scheme will be

Rs. 2550
Rs. 2424
Rs. 2224
Rs. 2380

Correct Answer: Rs. 2424

Explanation:

Now, the principal amount P = Rs. 1,45,440

Rate of interest R = 20%/annum

Now monthly income I = PTR/100 = 1,45,440 x 20 x 1/100 x 12

= 2908800/1200

= Rs. 2424.

Hence, her monthly income = Rs. 2424.

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