1) Ms. Asha has joined 'M/s Amket Ltd.' on 1st April 2009.

She will retire from the services on 31st March 2034 at age 55 Years. Her current salary package is Basic Salary Rs. 15000 per months, DA Rs. 5000 per month. HRA- 10% of basic. She is bit worried about her sunset years when her source of income will not suffice her basic needs, so after due consultation with her friends, she decides to devote religiously (on due basis) 15% of her basic salary on a monthly basis in an Equity Oriented Mutual Fund through SIP. The salary package as regards to basic + DA will stay stagnant throughout the whole period while HRA will increase by 10% of basic per annum for the first 10 Years then @ 15% of basic per annum for the next 10 Years and then @ 20% of Basic for the balance period of service. It is estimated: The said MF Scheme will grow by 12% p.a. Inflation through out the period will be 7% p.a. As a Financial Planner work out the market value of the said scheme so standing to her credit on the eve of her retirement as on 1st April 2034, which is going to be part of her Retirement Corpus. Options : a.) Rs 4227404 b.) Rs 3793964 c.) Rs 3829964 d.) Rs 4269679 Correct Answer (as per book) : c.) Rs. 3829964

2) Mr. Kishore aged 30 Years has joined 'M/s Acme Ltd.' on 1st April 2009. He will retire from the services on 31st March 2039 at age of 60 Years. His current salary package is Rs. 3 Lakh per year. He is worried about his sunset years when his source of income will not suffice his basic needs, so after due consultation with his friend he decides to invest 20% of his annual salary on due basis each year in an Equity oriented mutual Fund. It is estimated on Sanguine basis that : The said mutual Fund scheme will grow by 12% p.a. Compounded yearly. Inflation through out the whole period will be 7% p.a. His salary will increase by 5% p.a. As a Financial Planner work out the Accumulated value in the said scheme so standing to his credit on the eve of her retirement as on 1st April 2039, which is going to be part of his retirement corpus. Options : a.) Rs 2,19,75,412 b.) Rs 2,17,28,443 c.) Rs 2,44,19,861

d.) Rs 2,46,12,461 e.) None of the above Correct Answer (as per book) : d.) Rs 2,46,12,461 My Answer : Rs. 3,88,46,347.06 My Solution : FV(0.17,30,60000,,) {MF will grow by 12% p.a., and Salary will grow by 5% p.a.}..??

PLEASE ASSIST ME..!!! 6 days ago