98. Mr. Sharma deposited ₹20,000 as a fixed deposit at 10% interest per annum. If 30% tax is deducted on the interest earned, what is his annual income from the fixed deposit?
Answer: ₹1,400
A
₹4,000
B
₹3,000
C
₹1,800
D
₹1,400
Detailed Explanation
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Annual interest = 10% of ₹20,000 = ₹2,000. Tax = 30% of ₹2,000 = ₹600. Net annual income = ₹2,000 − ₹600 = ₹1,400.
99. A vendor purchased 40 dozen bananas for ₹1,250. Out of these, 30 bananas were rotten and could not be sold. At what rate per dozen should he sell the remaining bananas to make a profit of 20%?