Mr. Rao begins his career with an annual salary of ₹4,80,000. Every year his salary is raised by a fixed amount of ₹15,000.
Answer the following questions based on this information:
(i) Find his salary during the 7th year of service.
(ii) Calculate the total salary earned by Mr. Rao during the first 7 years of service.
(iii) In which year will his annual salary first reach or exceed ₹6,00,000? Show all necessary steps.