Question

A certain financial institution reported that its assets totaled Rs.2,377,366.30 on a certain day. Of this amount, Rs.31,724.54 was held in cash. Approximately what percent of the reported assets was held in cash on that day?

• A. 0.00013
• B. 0.0013
• C. 0.013
• D. 1.3

Answer 1

The Correct Option is D

To find the percentage of assets held in cash, use the formula: \[ Percentage = \frac{Cash amount}{Total assets} \times 100 \] Substitute the given values: \[ Percentage = \frac{31,724.54}{2,377,366.30} \times 100 \approx 1.3% \] To find the percentage, divide the part by the total and multiply by 100.