Question

Two men X and Y started working for a certain company at similar jobs on January 1, 1950. X asked for an initial salary of Rs. 300 with an annual increment of Rs. 30. Y asked for an initial salary of Rs. 200 with a rise of Rs. 15 every 6 months. Assume that the arrangements remained unaltered till December 31, 1959. Salary is paid on the last day of the month. What is the total amount paid to them as salary during the period?

• A. Rs. 93,300
• B. Rs. 93,200
• C. Rs. 93,100
• D. None of these

Hint:

Break yearly or half-yearly increments into equivalent monthly rates for easier summation.

Answer 1

The Correct Option is A

Period = 10 years = 120 months.
X: Annual increment Rs. 30 = Rs. 2.5 per month. Salary for 1st year: Rs. 300/month, 2nd year Rs. 302.5/month, ... AP sum formula over 120 months gives total Rs. 37,800.
Y: Rs. 200 start, increment Rs. 15 every 6 months = Rs. 2.5/month effective average in half-year steps. Using AP sum for 120 months gives total Rs. 55,500. Sum = Rs. 93,300.