Mr A earns Rs 30000 in a month. He spends Rs 25000 on his needs. What is the probability of his savings?
Earned amount = Rs 30000
Spent amount = Rs 25000
Amount saved = Earned amount – Spent amount
= 30000 – 25000
= 5000
Total possible outcomes = n(S) = 30000
Number of favourable outcomes for savings = n(E) = 5000
P(his savings) = n(E)n(S)
= 500030000
= 16