A person's monthly income is distributed as follows: 30% is invested in Mutual Funds. ₹15,600 is spent on Education. The remaining amount is saved. If the savings are equal to 11/25 of the total monthly income, then the monthly income is.
- AOption (a)
₹48,000
- BOption (b)
₹44,000
- COption (c)
₹58,000
- DOption (d)
₹60,000
- EOption (e)
₹62,000
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Correct answer
₹60,000
Why this answer is correct
Given:
30% of the income is invested in Mutual Funds.
₹15,600 is spent on Education.
The remaining amount is saved.
Savings = 11/25 of the total income.
Calculation:
⇒ Savings = (11/25) × 100% = 44% of the total income
⇒ Percentage spent on Mutual Funds = 30%
⇒ Percentage spent on Education = 100% − (30% + 44%) = 26%
⇒ 26% of the income = ₹15,600
⇒ Total monthly income = (15,600 × 100)/26 = ₹60,000
Final Answer = ₹60,000