A man buys a house for ₹5 lakh and rents it. He puts 12 1/2% of each month's rent aside for repairs, pays… · ABC26GN2121
Subject: General Aptitude · Chapter: Percentage · Exam: M.A.T. 2009
A man buys a house for ₹5 lakh and rents it. He puts $12 \frac{1}{2} \%$ of each month's rent aside for repairs, pays ₹1660 as annual taxes and realizes 10\% on his investment thereafter. Find the monthly rent of the house. (M.A.T., 2009)
Answer
No answer key was printed for this question.
Explanation
Let the annual rent of the house be ₹$x$. Then, $$\begin{aligned} & x-\left(12 \frac{1}{2} \% \text { of } x+1660\right)=10 \% \text { of } 500000 \\ & \Rightarrow x-\left(\frac{25}{2} \times \frac{1}{100} \times x+1660\right)=50000 \\ & \Rightarrow \frac{7 x}{8}-1660=50000 \Rightarrow \frac{7 x}{8}=51660 \Rightarrow x=\left(\frac{51660 \times 8}{7}\right)=59040 . \\ & \text { Hence, monthly rent }=₹\left(\frac{59040}{12}\right)=₹ 4920 . \end{aligned}$$
Explanation as extracted from the printed page; notation may be imperfect.