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A man invests Rs. 124000 for 9 years at 5% SI. Income tax at the rate of 19% is deducted from interest earned at the end of every year. Find the amount at the end of the 9th year?
- a)Rs. 169198
- b)RS. 169918
- c)Rs. 196918
- d)Rs. 199698
- e)None
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
A man invests Rs. 124000 for 9 years at 5% SI. Income tax at the rate ...
Answer – 1.Rs. 169198 Explanation : for one year = 124000*5/100 = 6200 income tax = 6200*81/100 = 5022 for 9 years = 45198 Amount = 124000+45198 = 169198
Most Upvoted Answer
A man invests Rs. 124000 for 9 years at 5% SI. Income tax at the rate ...
for one year = 124000*5/100 = 6200
income tax = 6200*81/100 = 5022
for 9 years = 45198
Amount = 124000+45198 = 169198
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Community Answer
A man invests Rs. 124000 for 9 years at 5% SI. Income tax at the rate ...
Given data:
Principal amount (P) = Rs. 124000
Rate of interest (R) = 5%
Time period (T) = 9 years
Income tax rate = 19%
Calculating Simple Interest:
Simple Interest (SI) can be calculated using the formula:
SI = (P * R * T) / 100
Substituting the given values, we get:
SI = (124000 * 5 * 9) / 100
SI = 55800
Calculating Interest after Deducting Income Tax:
The interest earned at the end of every year is subjected to income tax at the rate of 19%. Therefore, the amount after deducting income tax can be calculated as:
Amount after Deducting Tax = SI - (SI * tax rate)
Substituting the given values, we get:
Amount after Deducting Tax = 55800 - (55800 * 0.19)
Amount after Deducting Tax = 55800 - 10602
Amount after Deducting Tax = 45198
Calculating Amount at the end of 9 years:
To find the amount at the end of 9 years, we need to consider the interest earned after deducting tax for each year and add it to the principal amount.
Amount = Principal + Total Interest earned after Deducting Tax
Total Interest earned after Deducting Tax = Amount after Deducting Tax * Time period
Substituting the values, we get:
Total Interest earned after Deducting Tax = 45198 * 9
Total Interest earned after Deducting Tax = 407782
Amount = Principal + Total Interest earned after Deducting Tax
Amount = 124000 + 407782
Amount = 531782
Therefore, the amount at the end of the 9th year is Rs. 531782, which is not present in the given options. Hence, none of the provided options are correct.
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A man invests Rs. 124000 for 9 years at 5% SI. Income tax at the rate of 19% is deducted from interest earned at the end of every year. Find the amount at the end of the 9th year?a)Rs. 169198b)RS. 169918c)Rs. 196918d)Rs. 199698e)NoneCorrect answer is option 'A'. Can you explain this answer? for Quant 2025 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about A man invests Rs. 124000 for 9 years at 5% SI. Income tax at the rate of 19% is deducted from interest earned at the end of every year. Find the amount at the end of the 9th year?a)Rs. 169198b)RS. 169918c)Rs. 196918d)Rs. 199698e)NoneCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Quant 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A man invests Rs. 124000 for 9 years at 5% SI. Income tax at the rate of 19% is deducted from interest earned at the end of every year. Find the amount at the end of the 9th year?a)Rs. 169198b)RS. 169918c)Rs. 196918d)Rs. 199698e)NoneCorrect answer is option 'A'. Can you explain this answer?.
A man invests Rs. 124000 for 9 years at 5% SI. Income tax at the rate of 19% is deducted from interest earned at the end of every year. Find the amount at the end of the 9th year?a)Rs. 169198b)RS. 169918c)Rs. 196918d)Rs. 199698e)NoneCorrect answer is option 'A'. Can you explain this answer? for Quant 2025 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about A man invests Rs. 124000 for 9 years at 5% SI. Income tax at the rate of 19% is deducted from interest earned at the end of every year. Find the amount at the end of the 9th year?a)Rs. 169198b)RS. 169918c)Rs. 196918d)Rs. 199698e)NoneCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Quant 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A man invests Rs. 124000 for 9 years at 5% SI. Income tax at the rate of 19% is deducted from interest earned at the end of every year. Find the amount at the end of the 9th year?a)Rs. 169198b)RS. 169918c)Rs. 196918d)Rs. 199698e)NoneCorrect answer is option 'A'. Can you explain this answer?.
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