Out of his monthly income, a man spends 50% on household items, 23% on travelling and children education, 15% on bank EMI and saves the remaining ₹6000. What is his monthly income?
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → ₹50,000
The saving is whatever percentage of the income is left after the three expenses, so that percentage is found first and then equated to ₹6000.
Spent: \(50+23+15=88\%\) of the income
Saved: \(100-88=12\%\) of the income \(=6000\)
Income \(=\frac{6000\times100}{12}=50000\), that is, ₹50,000