Mr.Nazim was planning on depositing a certain amount of money each month into a college fund for his children. He then decided not to make any contributions during June and July. To make the same annual contribution that he had originally planned, by what percent should he increase his monthly deposits?
Mr.Nazim was planning on depositing a certain amount of money each month into a college fund for his children. He then decided not to make any contributions during June and July. To make the same annual contribution that he had originally planned, by what percent should he increase his monthly deposits? Correct Answer 1623%
Assume we conteributes 100 Tk per month, for an annual total of 1200 Tk.Seeing that he missed two months : 1200 - 1000 = 200 1 have2001200×100 = 1623%