Question : A man loses 20% of his money and after spending 85% of the remainder, he is left with Rs. 120. How much did he have at first?
Option 1: Rs. 1,200
Option 2: Rs. 1,000
Option 3: Rs. 800
Option 4: Rs. 500
Correct Answer: Rs. 1,000
Solution :
Given: A man loses 20% of his money and after spending 85% of the remainder, he is left with Rs.120.
Let the initial money be $x$.
According to the question,
$x×\frac{100-20}{100}×\frac{100-85}{100}=120$
⇒ $x=120×\frac{100}{80}×\frac{100}{15}$
$\therefore x=1000$
Hence, the correct answer is Rs. 1,000.
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