Question

P spends 20% of his monthly income in travelling. He spends 25% of his monthly income on household expenses and spends 15% of his monthly income on families medical expenses. He has remaining amount of Rs. 10040 as cash with him. What is P's annual income?

A Rs. 316800 Correct Answer Incorrect Answer
B Rs. 301200 Correct Answer Incorrect Answer
C Rs. 240840 Correct Answer Incorrect Answer
D Rs. 316800 Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

Let P's monthly income be Rs. 100.
Total expenditure = (20 + 25 + 15)% = 60%
∴ Savings = (100 – 60)%× 100 = Rs. 40
Now, 40 : 100 : : 10040 : x
⇒ x = (100× 10040)/40 = Rs. 25100
P's monthly income = Rs. 25100
∴ P's annual income = Rs. 12 × 25100= Rs. 301200

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