Question
What is the amount that Sumit spends annually on paying
his loan instalments? 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.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 Loan Instalments = 21000 × 12 = Rs. 2,52,000
Kisan and Laxman started a business with the investment of Rs. 1600 and Rs. (y+200) respectively. After four months of the start of business, Mayur join...
A and B together started a business by investing their capital in the ratio of 8:7, respectively and total amount invested by them together is Rs. 1500....
'A' and 'C' started a business by investing Rs. 11,000 and Rs. 13,000, respectively. Seven months later, they invited 'B' to join the business who inves...
Three friends A, B and C entered into partnership by investing Rs. 15X, Rs. (3X + 26) and Rs. (1000 – 6X) respectively. The ratio of the time period o...
Entrepreneurs 'R' and 'M' ventured into a business together, contributing capital in the ratio of 4:3. The time periods for which 'R' and 'M' invested a...
X, Y, and Z each invested amounts of Rs. 60,000, Rs. 180,000, and Rs. 100,000 at an annual simple interest rate of 5%. The investment durations for X, Y...
Makhan Lal started a business with the capital investing Rs 18,400. After 6 months Arvind Lal invested Rs 16200. At the end of one year they made a prof...
Two people 'Anil' and 'Binod' entered into a partnership with an Starting investment of Rs.5,000 and Rs.8,000, individually. After one year, 'Anil' and ...
'A' and 'B' started a business by investing Rs. '5x' and Rs. '4x' respectively. Six months later, 'A' withdrew Rs. 200 from his investment whereas 'B' i...
A started a business with an investment of Rs.12000. After few months B joined him with an investment of Rs.15000. If at the end of the year, they share...
Relevant for Exams:
