Ravi's monthly salary is ₹16,000. He spends 30% of his salary on rent, 20% of his salary on education. 60% of the remaining amount is invested in mutual funds. Find the amount invested in mutual funds in a month.
Answer & explanation
Correct answer: option 2
30% = \(\frac{3}{10}\) , 20% = \(\frac{1}{5}\) & 60% = \(\frac{3}{5}\)
Total salary = 16000
Salary spend on Rent & Education = \(\frac{3}{10}\) × 16000 + \(\frac{1}{5}\) × 16000
= 8000
Remaining salary = 16000 - 8000 = 8000
Salary spend on Mutual funds= \(\frac{3}{5}\) × 8000 = 4800