Question

Mr A earns Rs 30000 in a month. He spends Rs 25000 on his needs. What is the probability of his savings?

Answer 1

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) = $\frac{n\left(E\right)}{n\left(S\right)}$

= $\frac{5000}{30000}$

= $\frac{1}{6}$