Ramesh spends 40% of his monthly salary on food, 18% on house rent, 12% on entertainment, and 5% on conveyance. But due to a family function, he has to borrow ₹16,000 from a money lender to meet the expenses of ₹20,000. His monthly salary is :
Answer & explanation
Correct answer: option 3
Let the Monthly income be 100x
Total expenditure = 40x + 18x + 12x + 5x = 75x
Money left = 100x - 75x = 25x
Saving = 4000
25x = 4000
100x = 4000 × \(\frac{100}{25}\)
100x = 16000
So , monthly income is 16000