Question

Maryam earned AED 600,000 last year and saved 13% of it. She spent 73% of the remaining amount to maintain her status of living and used the rest of her money to pay 99.97% of her bank loan. However, she had to cover the difference and paid an extra amount of AED 60. How much was the total amount she owed to the bank?

Answer 1

The total amount Maryam owed her bank is AED 150,000

Total amount earned = 600,000

• Amount saved = (0.13 × 600,000) = 78,000
• Amount left = 600,000 - 78,000 = 522,000

Amount spent on maintainance = (73% × 522,000) = 381,060

Amount used to offset debt from amount earned :

• (522,000 - 381,060) = 140940
• Extra amount added = 60

Therefore,

• Total amount owed = 140,940 + 60 = AED 150,000

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