A man has two options. He can either buy a house at Tk. 17,50,000, which he has to borrow from the bank paying 8% interest per annum. He also has to pay municipal taxes of Tk. 22,200 per annum. Alternatively, he can rent a flat at Tk.12, 000 per month, but he does not have to pay municipal taxes. Which option is profitable, and by how much Taka each year?

Ashifur August 8, 2023 - 14:23

Problem: A man has two options. He can either buy a house at Tk. 17,50,000, which he has to borrow from the bank paying 8% interest per annum. He also has to pay municipal taxes of Tk. 22,200 per annum. Alternatively, he can rent a flat at Tk.12, 000 per month, but he does not have to pay municipal taxes. Which option is profitable, and by how much Taka each year?

View all: ICB BANK | OFFICER | WRITTEN QUESTION (MATH) SOLVE | 1997

Correct Answer: TK 18200Q

Explanation:

If he buys a house his expenditure per year = 1,750,000 x 0.08 + 22,200

= 1,62,200

If he rents, has expenditure per year = 12,000 x 12 = 1,44,000

Renting option is preferable by = 162200 – 144000 = 18,200

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