Question : A person spends 25% of his annual income on house rent, 15% on education of children and 45% on other items. If he saves Rs. 14400 annually, then the person's total income is:
Option 1: Rs. 96000
Option 2: Rs. 98000
Option 3: Rs. 100000
Option 4: Rs. 120000
Correct Answer: Rs. 96000
Solution :
Let the total income be 100 units.
Remaining amount after spending = 100 – (25 + 15 + 45) = 15 units
According to the question,
15 units = Rs. 14400
1 unit = $\frac{14400}{15}$
Then, total income = 100 units = $100×\frac{14400}{15}$ = Rs. 96000
Hence, the correct answer is Rs. 96000.
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