A man earns N150,000 per month and his wife earns N125,000 per month. If they both decide to save 10% of their salaries into a couple's account with a bank how much will they have after 10 months of savings?
A. N150,000 B. N330,000 C. N275,000 D. N125,000
Correct Answer: C
Explanation
To find out how much they will have saved after 10 months, we can follow these steps:
1. Calculate the amount saved per month for each person:
- The man earns per month, and saves 10%:
- The wife earns per month, and saves 10%:
2. Calculate the total amount saved per month by both:
3. Calculate the total savings over 10 months:
So, the amount they will have saved after 10 months is: