Read the following scenario and answer the THREE questions that follow.

Comprehension:
Future Leaders is one of the most prestigious private schools in a small town, next to an industrial hub. Most of its students come from affluent families, but there are some who belong to middle-income and lower-middle-income families as well. The school charges an annual fee of ₹2 lakhs, inclusive of all charges, payable at the beginning of the academic year. Roughly 20% of the fees collected goes into paying the salaries of the teachers, another 30% for the upkeep of the school, and roughly 20% for miscellaneous expenses in running day-to-day businesses like supply, cleaning etc. The remaining goes into an exigency corpus.

This year, like the rest of the country, the town has been hit by the coronavirus pandemic. The classes have been shifted online. The local authorities have mandated that all schools have to reduce their fees by 20%. Further, parents should be given extended time to pay the fees if they are in financial distress. Six months into the academic year, only 40% of the parents have paid even the reduced annual fees.