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Ms. Pooja Pushpan invests 13% of her monthly salary, i.e. Rs 8554 in Mediclaim Policies. Later she invests 23% of her monthly salary on child Education Policies. Also, she invests another 8% of her monthly salary on Mutual Funds. What is the total annual amount invested by Ms PoojaPushpan?
  • a)
    Rs 28952
  • b)
    Rs 43428
  • c)
    Rs 347424
  • d)
    Rs 173712
  • e)
    None of these
Correct answer is option 'C'. Can you explain this answer?
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Ms. Pooja Pushpan invests 13% of her monthly salary, i.e. Rs 8554 in M...
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Ms. Pooja Pushpan invests 13% of her monthly salary, i.e. Rs 8554 in M...
To find the total annual amount invested by Ms. Pooja Pushpan, we need to calculate the monthly amount invested in each category and then multiply it by 12 to get the annual amount.

Given:
Percentage of monthly salary invested in Mediclaim Policies = 13%
Percentage of monthly salary invested in Child Education Policies = 23%
Percentage of monthly salary invested in Mutual Funds = 8%
Monthly salary = Rs 8554

1. Calculate the monthly amount invested in each category:
Mediclaim Policies investment:
Monthly amount invested in Mediclaim Policies = (13/100) * Monthly salary
= (13/100) * 8554
= Rs 11115.02 (rounded off to the nearest rupee)

Child Education Policies investment:
Monthly amount invested in Child Education Policies = (23/100) * Monthly salary
= (23/100) * 8554
= Rs 1968.42 (rounded off to the nearest rupee)

Mutual Funds investment:
Monthly amount invested in Mutual Funds = (8/100) * Monthly salary
= (8/100) * 8554
= Rs 684.32 (rounded off to the nearest rupee)

2. Calculate the total annual amount invested:
Total annual amount invested = (Monthly amount invested in Mediclaim Policies + Monthly amount invested in Child Education Policies + Monthly amount invested in Mutual Funds) * 12
= (11115.02 + 1968.42 + 684.32) * 12
= Rs 347,424 (rounded off to the nearest rupee)

Therefore, the total annual amount invested by Ms. Pooja Pushpan is Rs 347,424, which is option (c).
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Ms. Pooja Pushpan invests 13% of her monthly salary, i.e. Rs 8554 in Mediclaim Policies. Later she invests 23% of her monthly salary on child Education Policies. Also, she invests another 8% of her monthly salary on Mutual Funds. What is the total annual amount invested by Ms PoojaPushpan?a)Rs 28952b)Rs 43428c)Rs 347424d)Rs 173712e)None of theseCorrect answer is option 'C'. Can you explain this answer?
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