Question : The monthly salary of a person is INR 50,000. He spends 40% of his salary on household expenses, 25% on rent, and 15% on transportation, and saves the remaining amount. What is his yearly savings?
Option 1: INR 1,00,000
Option 2: INR 1,10,000
Option 3: INR 1,20,000
Option 4: INR 90,000
Correct Answer: INR 1,20,000
Solution : The monthly salary of a person = INR 50,000 Household expenses = 40% of INR 50000 Rent = 25% of INR 50000 Transportation = 15% of INR 50000 Monthly savings = (100 – 40 – 25 – 15)% of INR 50000 = 20% of INR 50000 = 0.2 × 50000 = 10000 Yearly savings = 12 × 10000 = 1,20,000 Hence, the correct answer is INR 1,20,000.
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