Question : Ravi's monthly salary is INR 16,000. He spends 30%of his salary on rent, 20% of his salary on education. 60% of the remaining amount is invested in mutual funds. Find the amount invested in mutual funds in a month.
Option 1: INR 5,000
Option 2: INR 4,800
Option 3: INR 4,200
Option 4: INR 4,500
Correct Answer: INR 4,800
Solution :
Monthly salary = INR 16000
Salary spent on rent = 30% of 16000
Salary spent on education = 20% of 16000
Remaining amount
= (100 – 30 – 20)% of 16000
= 50% of 16000
= INR 8000
Amount invested in mutual funds = 60% of 8000 = INR 4800
Hence, the correct answer is INR 4800.
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