Additional direction: Assume that the cost of the project is incurred in the year of completion; interest is charged at the rate of 10% per annum.
What is the cost incurred for projects completed in 1998?
Explanation:
Two projects are completed in 1998, one is Mumbai Heights and the second is Royal Holidays.
The cost of project is 250 + 225 = 475 crore. *Cost incurred = 475 + 47.5 = 522.5. (Students please note the last step. Rather than doing 1.1 × 475, it is convenient to do 475 + 10% of 475, which is = 475 + 47.5)
» Your doubt will be displayed only after approval.
Help us build a Free and Comprehensive Preparation portal for various competitive exams by providing us your valuable feedback about Apti4All and how it can be improved.