Question : A man spends 72% of his salary and saves Rs. 5,740 per month. What is 10% of his annual salary (in Rs.)?
Option 1: Rs. 21600
Option 2: Rs. 24600
Option 3: Rs. 20500
Option 4: Rs. 28400
Correct Answer: Rs. 24600
Solution :
Let the man's monthly salary as S.
According to the problem, he spends 72% of his salary and saves the rest.
⇒ S – 0.72S = 5740
⇒ 0.28S = 5740
⇒ S = $\frac{5740}{0.28}$ = Rs. 20500
Then, 10% of his annual salary = 0.10 × 12 × S = 0.10 × 12 × 20500 = Rs. 24600
Hence, the correct answer is Rs. 24600.
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