Question : Mayank spends 35% of his monthly income on household items, 25% on electronic items, and 7% on medicines. He saves the remaining amount of INR 11,550. What is Mayank's monthly income (in INR)?
Option 1: INR 38,000
Option 2: INR 35,000
Option 3: INR 40,000
Option 4: INR 33,000
New: SSC MTS Tier 1 Answer key 2024 out
Don't Miss: Month-wise Current Affairs | Upcoming Government Exams
New: Unlock 10% OFF on PTE Academic. Use Code: 'C360SPL10'
Correct Answer: INR 35,000
Solution : Given: Mayank spends 35% of his monthly income on household items, 25% on electronic items, and 7% on medicines. He saves the remaining amount of INR 11,550. Use the formula, Income = Savings + Expenditure Let the Mayank's total earnings be INR $100x$. Mayank's expenditure on household items $=100x\times \frac{35}{100}=35x$ Mayank's expenditure on household items $=100x\times \frac{25}{100}=25x$ Mayank's expenditure on household items $=100x\times \frac{7}{100}=7x$ According to the question, $100x=11550+67x$ ⇒ $33x=11550$ ⇒ $x=350$ The Mayank's monthly income $=100x=100\times 350=$ INR 35,000 Hence, the correct answer is INR 35,000.
Application | Cutoff | Selection Process | Preparation Tips | Eligibility | Exam Pattern | Admit Card
Question : Aman gave 30% of his monthly income to his father and of the remaining income he gave 30% to his daughter and 25% to his wife. Aman invested the amount of money remaining from his monthly income equally in three schemes. If he invested INR 42,000 in each scheme, what is Aman's monthly income (in thousands)?
Option 1: 300
Option 2: 400
Option 3: 200
Option 4: 500
Question : Ravi's monthly salary is INR 16,000. He spends 30%of his salary on rent, 20% of his salary on education. 60% of the remaining amount is invested in mutual funds. Find the amount invested in mutual funds in a month.
Option 1: INR 5,000
Option 2: INR 4,800
Option 3: INR 4,200
Option 4: INR 4,500
Question : The monthly income of a person is INR 15,000. He saves 20% of his income. If his income increases by 10% and his nominal savings remain the same, then what will be his new expenditure?
Option 1: INR 13,000
Option 2: INR 14,500
Option 3: INR 13,500
Option 4: INR 14,000
Question : A saves 18% of his income. If his income increases by 41% and still saves the same amount. Find the percentage increase in his expenditure.
Option 1: 60%
Option 2: 35%
Option 3: 50%
Option 4: 40%
Question : A person spends 25% of his annual income on house rent, 15% on education of children and 45% on other items. If he saves Rs. 14400 annually, then the person's total income is:
Option 1: Rs. 96000
Option 2: Rs. 98000
Option 3: Rs. 100000
Option 4: Rs. 120000
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile