Ramesh buys a house for ₹ 2,00,000. The annual repair cost comes to 6.0% of the price of purchase. Besides, he has to pay an annual tax of ₹ 12,000. At what monthly rent must he rent out the house to get a return of 20 % on his investment (in ₹) of the first year?
- A. ₹ 3867.67
- B. ₹ 3733.33
- C. ₹ 3000
- D. ₹ 3212.50
The correct answer is option B. 3733.33. Can you explain this answer in the comments?
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