Mr. Katial buys a house for ₹100000 and rents | vedclass

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Question

(C) Let the monthly rent be $₹x$.The annual rent is $12x$.Upkeep and repairs per year = $12.5 \%$ of $12x = 0.125 	imes 12x = 1.5x$.Annual taxes = $₹

Vedclass · Accepted Answer

$554.76$

Vedclass · Answer

(C) Let the monthly rent be $₹x$.The annual rent is $12x$.Upkeep and repairs per year = $12.5 \%$ of $12x = 0.125 	imes 12x = 1.5x$.Annual taxes = $₹325$.Net annual income = (Total annual rent) - (Upkeep and repairs) - (Taxes) = $12x - 1.5x - 325 = 10.5x - 325$.The annual return on investment is $5.5 \%$ of $₹100000 = 0.055 	imes 100000 = ₹5500$.Equating the net annual income to the annual return:$10.5x - 325 = 5500$$10.5x = 5825$$x = \frac{5825}{10.5} \approx ₹554.76$.Thus,the monthly rent is approximately $₹554.76$.

Mr. Katial buys a house for ₹$100000$ and rents it out. He puts $12.5 \%$ of each month's rent aside for upkeep and repairs,pays ₹$325$ per year as taxes,and realizes a $5.5 \%$ annual return on his investment. Find the monthly rent.

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