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      Question

      Aman spends 30% of his income, monthly income, on fuel.

      40% in basic needs and 20% of the remaining in education. He saves the rest of them all in a recurring deposit which gives out simple interest at the rate of 15% per annum. Find the amount. Aman will get at the end of year if his spending on education is rupees 1200 per month.
      A 56680 Correct Answer Incorrect Answer
      B 63458 Correct Answer Incorrect Answer
      C 32280 Correct Answer Incorrect Answer
      D 66820 Correct Answer Incorrect Answer
      E 62280 Correct Answer Incorrect Answer

      Solution

      Let monthly income equal to Rupees 100 X. Spending on fuel = 100x* 0.3 = 30x┬а Spending on basic needs┬а = 100x*0.4 = 40x Spending on education = (100x-30x-40x) 0.2 = 6x 6x= 1200 Saving = 24x 24x = 4800┬а Total interest by recurring scheme. = 4800*(15/100)*(12*13/2)/12┬а =Rs. 4680 Amount = 4800*12+4680 = Rs.62280

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