📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    The monthly amount spent on loan instalments is what

    percent of his household expenses? Study the following information carefully and answer the following questions. Mr. Sumit earns an annual income of 18 lakh. Every month he saves 30% of his monthly income. 20% of the remaining amount of his monthly income he spends on paying his loan instalments. He spends 25% of his monthly income by paying various bills and spends 30% of his monthly income on other household expenses. He gives the remaining amount of his monthly income to his family.
    A 40.25% Correct Answer Incorrect Answer
    B 33.15% Correct Answer Incorrect Answer
    C 46.66% Correct Answer Incorrect Answer
    D 48.05% Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Monthly income Sumit = 18,00,000/12 = Rs. 1,50,000 Monthly savings = 1,50,000 × 30/100 = Rs. 45,000 Monthly loan instalments = (1,50,000 – 45,000 ) × 20/100= Rs. 21,000 Various bills = 1,50,000 × 25/100 = Rs. 37,500 Household expenses = 1,50,000 × 30/100 = Rs. 45,000 Monthly income given to his family = 1,50,000 – 45,000 – 21,000 – 37,500 – 45,000 = Rs. 1500 Required % = 21000 × 100/45000= 46.66%

    Practice Next
    More Databased Partnership Questions

    Relevant for Exams:

    ask-question