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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.
  1. ₹12570
  2. ₹18775
  3. ₹17585
  4. ₹15875


Solution

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 = 76200012 = ₹63500
Total saving per month = 25% of ₹63500 = ₹15875

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