Ramesh saves $26\frac{2}{3}$ % of his monthly salary. When his expenses are increased by 20%, he is able to save ₹4,080 per month. His monthly salary is:
Answer & explanation
Correct answer: option 3
26\(\frac{2}{3}\)% = \(\frac{80}{300}\) , 20% = \(\frac{1}{5}\)
Let Income = 300R , Saving = 80R & Expenses = 300R - 80R = 220R
Increased expenses = 220R + \(\frac{1}{5}\) × 220R = 264R
New saving = 300R - 264R = 36R
ATQ,
36R = 4080
1R = \(\frac{4080}{36}\) = 113.33
Income = 300R = 300 × 113.33 = 34000