Knowee
Questions
Features
Study Tools

Select the correct answerRakesh spent 30 percent of his monthly income on food items. Of the remaining amount he spent 60 percent on clothes and bills. Now he save five-seventh of the remaining amount and the he saves 1,20,000 yearly, then find his monthly income?Options40,00060,00070,00050,000

Question

Select the correct answerRakesh spent 30 percent of his monthly income on food items. Of the remaining amount he spent 60 percent on clothes and bills. Now he save five-seventh of the remaining amount and the he saves 1,20,000 yearly, then find his monthly income?Options40,00060,00070,00050,000

🧐 Not the exact question you are looking for?Go ask a question

Solution

Let's solve this step by step:

  1. Rakesh saves 1,20,000 yearly, so his monthly savings would be 1,20,000 / 12 = 10,000.

  2. This 10,000 is five-seventh of the amount remaining after he spent on food items and clothes/bills. So, the amount spent on food and clothes/bills is (7/5) * 10,000 = 14,000.

  3. This 14,000 is the remaining 40% of his income after he spent 60% on clothes and bills. So, his income after spending on clothes and bills is (100/40) * 14,000 = 35,000.

  4. This 35,000 is the remaining 70% of his income after he spent 30% on food. So, his total monthly income is (100/70) * 35,000 = 50,000.

So, the correct answer is 50,000.

This problem has been solved

Similar Questions

Rakesh spent 30 percent of his monthly income on food items. Of the remaining amount he spent 60 percent on clothes and bills. Now he save five-seventh of the remaining amount and the he saves 1,20,000 yearly, then find his monthly income?Options40,00060,00070,00050,000

Select the correct answerSeema spends 20% of his monthly salary on house-rent, 25% on food, 10% on transportation, 15% on education of his children and 18% on household expenses. He saves the remaining amount of 4800. What is her monthly salary?Options40,00032,00036,00028,000

Select the correct answerA person spends 30% of his income on food, 12% on house rent, 28% on miscellaneous. If the savings at the end of a month is Rs. 810, then the man’s total income is?OptionsRs. 2400Rs. 2100Rs. 2600Rs. 2700

Select the correct answerA person can save 25% of his income. If his income increases by 20% and still he saves the same amount as before, the percentage increase in his expenditure is?Options26 2/𝟑%25%25 1/𝟑%24%

Select the correct answerA man spends 40% of his monthly salary on food and one-third of the remaining on transport. If he saves Rs.4,500 per month, which is equal to half the balance after spending on food and transport, his monthly salary is?OptionsRs.11,250Rs.25,000Rs.45,000Rs.22,500

1/3

Upgrade your grade with Knowee

Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.