A building costing Rs.700000.00 has been constructed on a freehold land measuring 100 sq m recently in a big city. Prevailing rate of land in the neighbourhood is Rs.150.00 per sq m. Determine the net rent of the property, if the expenditure on an outgoing including sinking fund is Rs.24000.00 per annum. Work out also the gross rent of the property per month.

A building costing Rs.700000.00 has been constructed on a freehold lan

1.	A building costing Rs.700000.00 has been constructed on a freehold land measuring 100 sq m recently in a big city. Prevailing rate of land in the neighbourhood is Rs.150.00 per sq m. Determine the net rent of the property, if the expenditure on an outgoing including sinking fund is Rs.24000.00 per annum. Work out also the gross rent of the property per month.
A.	48000/-, 8000/-
B.	18000/-, 6000/-
C.	46700/-, 6000/-
D.	48000/-, 6000/-
Answer» E.

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