Implement the Python Inheritance, the core object oriented programming concept You are here required to develop a University Management System (UMS) to handle day to day activities of Students, Faculty and Finance Department (1)Create a parent class named person with following attributes Name, Surname and Registration Number (2)Create a child class named student derived from parent class person It will have same attributes as parent class Name, Surname and Registration Number In addition, it will have a Boolean attribute student type It can be undergraduate or postgraduate In addition, it will have a list attribute current courses Initially, keep it empty Create a method named Add Course() to append the courses he she is taking In addition, it will have attribute named Fees Initially, keep it empty Create a method named Fees Calculator() to calculate the current fees of the student member Each undergraduate student pays 500 per course, while the postgraduate student pay 750 per course So as the list of courses keeps on increasing the net fees also increases (3)Create a child class named faculty derived from parent class person It will have same attributes as parent class Name, Surname and Registration Number In addition, it will have a list attribute courses taught Initially, keep it empty Create a method named Add Teach Load() to append the courses in the list (courses taught) In addition, each faculty member will have attribute Pay Initially, keep it empty Create a method named Pay Calculator() to calculate the current salary of the faculty member Each faculty member is paid 400$ per course, so as the list of courses keeps on increasing the net salary also increases (4)Create a child class named UMS derived from parent classes student faculty It will be only used to calculate the net financial impact of the university It will read total number of students and faculty along with their fees and pays and calculate the net profit the university is generating

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Implement the Python Inheritance, the core object-oriented programming concept. You are here required to develop a University Management System (UMS) to handle day to day

Implement the Python Inheritance, the core object-oriented programming concept. You are here required to develop a University Management System (UMS) to handle day to day activities of Students, Faculty and Finance Department.

(1)Create a parent class named “person” with following attributes: Name, Surname and Registration_Number.

(2)Create a child class named “student” derived from parent class “person”. It will have same attributes as parent class: Name, Surname and Registration_Number.

In addition, it will have a Boolean attribute “student_type”. It can be undergraduate or postgraduate.
In addition, it will have a list attribute “current_courses”. Initially, keep it empty.
Create a method named “Add_Course()” to append the courses he/she is taking.
In addition, it will have attribute named “Fees”. Initially, keep it empty.
Create a method named “Fees_Calculator() to calculate the current fees of the student member. Each undergraduate student pays 500 per course, while the postgraduate student pay 750 per course. So as the list of courses keeps on increasing the net fees also increases.
(3)Create a child class named “faculty” derived from parent class “person”. It will have same attributes as parent class: Name, Surname and Registration_Number.
In addition, it will have a list attribute “courses_taught”. Initially, keep it empty.
Create a method named “Add_Teach_Load()” to append the courses in the list (courses_taught).
In addition, each faculty member will have attribute “Pay”. Initially, keep it empty.
Create a method named “Pay_Calculator() to calculate the current salary of the faculty member. Each faculty member is paid 400$ per course, so as the list of courses keeps on increasing the net salary also increases.
(4)Create a child class named “UMS” derived from parent classes “student & faculty”. It will be only used to calculate the net financial impact of the university. It will read total number of students and faculty along with their fees and pays and calculate the net profit the university is generating.