Read the following information carefully and answer the questions given below it. Asha wants to pursue her B. Tech from Stanford University, United States, but to be able to afford it, she has to tak…

Question

Read the following information carefully and answer the questions given below it. Asha wants to pursue her B. Tech from Stanford University, United States, 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. As soon as she landed in the United States, she had to pay the rent for her new apartment. The apartment rent was $500 per month. She then paid her tuition fee for the current semester worth $20000. On an average she spent $300 on utilities and groceries per month. Given that, Asha'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. Find, the annual amount spent on utilities is what percentage less than the annual amount spent on rent? (Approximate) w w

Testwala · Accepted Answer

40%

Testwala · Answer

Explanation: Total annual expenditure on rent = 12 months × $500 = $6000 Total annual expenditure on utilities = 12 months × $300 = $3600 Clearly the amount spent on utilities is less than the amount spent on rent ∴ required percentage = [(6000 – 3600)/6000] × 100 = (2400 × 100)/6000 = 40% (approximate) e e

Answer: D. 40%

Explanation

Answer: D. 40%

Explanation