Question

Savings form 25% of Mr. Malhotra's monthly income after tax deductions. If he earns ₹8,40,000 per annum and pays ₹78000 as Income tax, find his monthly saving.

• A. ₹12570
• B. ₹18775
• C. ₹17585
• D. ₹15875

Answer 1

The correct option is D ₹15875

Total income = ₹8,40,000
Total Income tax = ₹78,000
Total remaining = 8,40,000 - ₹78,000 = ₹7,62,000
Monthly income after tax deduction = $\frac{762000}{12}$ = ₹63500
Total saving per month = 25% of ₹63500 = ₹15875