Shortcut Trick
Ratio of Income = 7 : 5 (Gap = 2 units)
Ratio of Expenditure = 5 : 3 (Gap = 2 units)
Since the gap between Income and Expenditure is same for both (7−5 = 2 and 5−3 = 2), then 2 units = ₹10,000.
1 unit = ₹5,000.
Sum of Income = (7 + 5) = 12 units → 12 × 5,000 = ₹60,000.
∴ The correct answer is ₹60000.
Alternate Method
Given: Ratio of Incomes = 7 : 5, Ratio of Expenditures = 5 : 3, Savings = ₹10,000 each.
Formula Used: Income − Expenditure = Savings
⇒ Let Incomes be 7x and 5x.
⇒ (7x − 10000) / (5x − 10000) = 5 / 3
⇒ 3(7x − 10000) = 5(5x − 10000)
⇒ 21x − 30000 = 25x − 50000
⇒ 4x = 20000
⇒ x = 5000
⇒ Total Income = 7x + 5x = 12x = 12 × 5000 = 60000
∴ The correct answer is ₹60000.
Additional Information
Income-Expenditure Concept
Always remember the basic relationship: Income = Expenditure + Savings. If savings are equal, the difference between ratio terms of income and expenditure must be made equal.
Cross Multiplication Method
For different savings, use: (I1 × E2 − I2 × E1) units = (S1 × E2 − S2 × E1) to find the value of one unit directly.
Ratio Balancing
If the difference between Income parts and Expenditure parts is not equal, multiply the ratios by the difference of the other ratio to balance them.