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Natasha wants to pursue her B. Tech from ADC University, India, but to be able to afford it, she has to take an education loan. The loan agreement guaranteed to pay 80% of all her expenses. This way she only had to bear the remaining costs. She had to pay the rent for her new apartment was Rs. 550 per month. She then paid her tuition fee for the current semester worth Rs. 25000. On an average she spent Rs. 340 on utilities and groceries per month. Given that, Natasha's course lasted a total of two years (comprising of 2 semesters per year) and the bank gave 80% of the total expenses of two years at the beginning of her course
- Rs. 90308
- Rs. 85428
- Rs. 97088
- Rs. 90288
- Rs. 92286
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Answer: C official key
Approach: Total 2-year expenses (24 months, 4 semesters) × 80%.
Solution:
Rent = 550 × 24 = 13,200
Tuition = 25,000 × 4 semesters = 1,00,000
Utilities & groceries = 340 × 24 = 8,160
Total = 1,21,360
Bank pays 80% = 0.8 × 1,21,360 = Rs. 97,088
Cetking shortcut: Monthly items together = 890 × 24 = 21,360; + 1,00,000 tuition; × 0.8.
Answer: C