Kumar’s salary is ₹ 30,000 per month. He spends 25% of this on food and rent and 20% of the remaining on education. But he pays 5% of his total salary on paying the income tax and saves ₹ 8,000 after all these three deductions. What is the amount (in ₹.) available with him after his savings?
Answer & explanation
Correct answer: option 1
Salary of Kumar = Rs. 30,000
Let the available amount after savings = A
ATQ,
Expenditure on food and Rent = 25% of 30000 = 7500
Remaining salary = 30000 - 7500 = 22500
Expenditure on Education = 20% of 22500 = 4500
Now ,
25% of salary + 20% of remaining salary after expenditure of 25% + 5% of total on income tax + 8000(savings) + A = 30,000
7500 + 4500 + \(\frac{5}{100}\) × 100 + 8000 + A = 30000
A = 8500