Question

Nikhil spent 5% of his monthly income on his children's education, invested 14% in shares, deposited 3% in a bank and used 40% for his daily expenses. He was left with a balance of Rs. 19,000. What was his income that month ?.

• A. 50000

Answer 1

The correct option is A 50000
Let the monthly income be ₹ $x$.
Money spent on children's education = 5% of $x$ $=\frac{5x}{100}$
Money spent on shares = 14% of $x$ $=\frac{14x}{100}$
Money deposited in banks = 3% of $x$ $=\frac{3x}{100}$Money spent on daily expenses = 40% of $x$ $=\frac{40x}{100}$
Savings = Rs 19,000

$\Rightarrow \frac{5x}{100}+\frac{14x}{100}+\frac{3x}{100}+\frac{40x}{100}+19000=x$
$\Rightarrow \frac{5x+14x+3x+40x+19000\times 100}{100}=x$
$\Rightarrow 62x+1900000=100x$
$\Rightarrow 62x+1900000=100x$
$\Rightarrow 38x=1900000$
$\Rightarrow x=50,000$

Thus, monthly income = ₹ 50,000