Question
Individuals A and B have their incomes in the ratio of 5
to 3, while the ratio of their expenditures stands at 3 to 4, respectively. A saves Rs. 43,000 and B saves Rs. 6,000. It is also known that both A and B spend 25% of their respective incomes on food. Based on this information, determine the combined amount that A and B spend on all other items excluding food.Solution
Let the incomes of âAâ and âBâ be Rs. 5x and Rs. 3x, respectively Let their expenditures be Rs. 3y and 4y, respectively According to the question, 5x â 3y = 43000âŠ.. (1) And, 3x â 4y = 6000âŠ. (2) On solving equation (1) and (2), we get x = 14000 and y = 9000 Amount spent by âAâ and âBâ, together on food = 0.25(5x + 3x) = Rs. 28000 Required expenditure = (3y + 4y) â 28000 = Rs. 35000
What is the main focus of SIDBIâs initiative "Mission Swavalamban 2.0"?
Find the equilibrium quantity and price if the demand and supply equations are as follows:
Demand: Qd = 12 - P
Supply: Qs = - 3 + 4 P
In finance terminology the âTime value of moneyâ signifies that:
Consider the following Statements and choose the option with correct Statements.
I- Ministry of Consumer Affairs, Food and Public Distribution...
Direct quotation is also known as
Consider the following effects on the foreign exchange rate and identify if they are true or false:
   I. An increase in U.S. demand for Ind...
How much provision is required for an asset which is there in a doubtful category 1-3 years?
According to Union Budget 2023-24, consider the following statements regarding Electronics sectors:
1. Mobile phone producti...
An investor should buy a bond if:
Which of the following is not an Asset for the bank?