Mr Katial buys a house for Rs 1,00,000 and rents it. He puts 12.5% of each month’s rent aside for upkeep and repairs, pays Rs 325 per year as taxes and realizes 5.5% annually on his investment . Find the monthly rent?  Choose the correct choice from the following answers
A) Rs 634.76	B) Rs 554.76	C) Rs 654.76	D) Rs 664.76	E) none of these
Let the monthly rent be Rs X.   We have,   5.5% of 100000 = 12 (X - 12.5% of X) - 325   5500/12 = X - (X/8) - 325/12   5500/12 + 325/12 = 7/8 x X   X = 5825/12 x 8/7   Rs 554.76 per month   ANSWER:Rs 554.76
<result>B</result>
Mr Katial buys a house for Rs 1,00,000 and rents it. He puts 12.5% of each month’s rent aside for upkeep and repairs, pays Rs 325 per year as taxes and realizes 5.5% annually on his investment . Find the monthly rent?