Question
Lakshit allocates his income in the following manner:
24% is spent on food. After food expenses, he uses 25% of the balance on rent. He spends one-third of the remaining amount on entertainment. Following these expenses, he spends 25% of what's left on miscellaneous items. He saves the remaining sum, which amounts to Rs. 11,970. Calculate his total income.Solution
Let the income of Lakshit be Rs. '100q'. Money spent on food = 0.24 X 100q = Rs. '24q' Remaining income = 100q - 24q = Rs. '76q' Money spent on rent = 0.25 X 76q = Rs. '19q' Remaining income = 76y - 19q = Rs. '57q' Money spent on entertainment = (1/3) X 57q = Rs. '19q' Remaining income = 57q - 19q = Rs. '38q' Money spent on others = 0.25 X 38q = Rs. '9.5q' Savings = 38q - 9.5q = Rs. '28.5q' So, 28.5q = 11,970 Or, 'y' = (11,340/27) = 420 Therefore, income of Lakshit = 420 X 100 = Rs. 42,000
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