**Question # 1**

Basic Salary of Sana is Rs 24,000 per month. According to service rules her allowances are some percentage of basic salary whereas other benefits are percentage of Gross Salary. This month, details of her benefits are as follows:

Benefits |
Rs. |
Percent |

House Rent | 10800 | |

Utilities Allowance | 2400 | |

Medical/Group insurance | 1860 | |

Miscellaneous Social Charges | 2232 |

Find the percentage of each benefit .i.e. What percent of basic or gross salary are these benefits.(Show the calculation).

Gross Earnings

Summary of different components of salary is as follows:

• Basic salary 100 %

• Allowances 50 %

• Gratuity 9.99 %

• Provident Fund 9.99 %

• Social Charges 29 %

house rent=45% of basic salary

utilities allowance=10% of basic salary

medical/group insurance=7.75% of gross salary

misc.social charges=9.3% of gross salary

**Question # 2**

Mr. Saleem borrowed an amount of Rs 5,00,000. to purchase a car at the rate of % per annum for a period of 7 years and 4 months. Find the amount of simple interest to be paid by Mr. Saleem.

I=P.R.T/100

= 5.5*500000*88/100

= 2,420,000

Or ? mean yearly not monthly

I = 5,00,000 * 7.333 * 5.5 / 100

I = 201657.5