Nathan's monthly incomes is Rs 50,000 Every year, he pays a total EMI amount of Rs 30,000. What percentage of his yealy salary goes towards the EMI ?

Options

A. 8
B. 2
C. 5
D. 4

Answer

To find out what percentage of Nathan's yearly salary goes towards the EMI, we can follow these steps:

### Step 1: Calculate Nathan's Yearly Income
Nathan's monthly income is Rs 50,000. To find his yearly income, we multiply his monthly income by the number of months in a year (12).

\[ \text{Yearly Income} = \text{Monthly Income} \times 12 = 50,000 \times 12 = 600,000 \]

### Step 2: Identify the Total EMI Amount
Nathan pays a total EMI amount of Rs 30,000 every year.

### Step 3: Calculate the Percentage of Yearly Salary that Goes Towards EMI
To find the percentage of Nathan's yearly salary that goes towards the EMI, we use the formula:

\[ \text{Percentage} = \left( \frac{\text{Total EMI}}{\text{Yearly Income}} \right) \times 100 \]

Substituting the values we have:

\[ \text{Percentage} = \left( \frac{30,000}{600,000} \right) \times 100 \]

### Step 4: Simplify the Calculation
Now we simplify the fraction:

\[ \frac{30,000}{600,000} = \frac{30}{600} = \frac{1}{20} \]

Now, multiply by 100 to find the percentage:

\[ \text{Percentage} = \frac{1}{20} \times 100 = 5\% \]

### Final Answer
Nathan spends 5% of his yearly salary on EMI.

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