Question : Mayank spends 35% of his monthly income on household items, 25% on electronic items, and 7% on medicines. He saves the remaining amount of INR 11,550. What is Mayank's monthly income (in INR)?
Option 1: INR 38,000
Option 2: INR 35,000
Option 3: INR 40,000
Option 4: INR 33,000
Correct Answer: INR 35,000
Solution :
Given: Mayank spends 35% of his monthly income on household items, 25% on electronic items, and 7% on medicines.
He saves the remaining amount of INR 11,550.
Use the formula, Income = Savings + Expenditure
Let the Mayank's total earnings be INR $100x$.
Mayank's expenditure on household items $=100x\times \frac{35}{100}=35x$
Mayank's expenditure on household items $=100x\times \frac{25}{100}=25x$
Mayank's expenditure on household items $=100x\times \frac{7}{100}=7x$
According to the question,
$100x=11550+67x$
⇒ $33x=11550$
⇒ $x=350$
The Mayank's monthly income $=100x=100\times 350=$ INR 35,000
Hence, the correct answer is INR 35,000.
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