Question : The monthly salary of a person was INR 1,60,000. He used to spend on three heads - Personal and family expenses (P), Taxes ( T ) and Education loans (E). The rest were his savings. P was 50% of the income, E was 20% of P, and T was 15% of E. When his salary got raised by 30%, he maintained the percentage level of P, but E became 30% of P and T became 20% of E. The sum of the two savings (in INR) is:
Option 1: 2,11,680
Option 2: 1,28,160
Option 3: 1,18,620
Option 4: 1,62,810
Correct Answer: 1,28,160
Solution :
Given: The monthly salary of a person = INR 1,60,000
Personal and family expenses are denoted as (P)
Taxes are denoted as (T)
Education loan is denoted as (E)
According to the question,
1st condition:
P = $160000 × \frac{1}{2}$
= 80000
E = $80000 × \frac{1}{5}$
= 16000
T = $16000 × \frac{3}{20}$
= 2400
Savings = 160000 – (80000 + 2400 + 16000)
= 61600
New salary = $160000 × \frac{13}{10}$
= 208000
2nd condition:
P = $208000 × \frac{1}{2}$
= 104000
E = $104000 × \frac{3}{10}$
= 31200
T = $31200 × \frac{1}{5}$
= 6240
Savings = 208000 – (104000 + 6240 + 31200)
= 66560
Sum of savings = 61600 + 66560
= 128160
Hence, the correct answer is 1,28,160.
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