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Important instructions before attempting the solution of this assignment:
Basic Salary of an employee is Rs. 18,000 and Allowances are Rs. 9000. According to the company’s policy casual leaves are 12 days per year and earned leaves are 24 days per year and normal working days are 22 per month.
Find the total cost of leaves as percent of gross salary?
If an employee deposits Rs. 2,000 at the end of each year into his company’s plan which pays 7% interest compounded quarterly, how much will he have in the account at the end of 5 years?