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 ₹19,000. Calculate his income that month.

Answer 1

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 = ₹19,000

$\Rightarrow \frac{5x}{100}+\frac{14x}{100}+\frac{3x}{100}+\frac{40x}{100}+19,000=x$
$\Rightarrow \frac{5x+14x+3x+40x+19,000\times 100}{100}=x$
$\Rightarrow 62x+19,00,000=100x$
$\Rightarrow 62x+19,00,000=100x$
$\Rightarrow 38x=19,00,000$
$\Rightarrow x=50,000$

Thus, monthly income = ₹50,000