Shamrao's income in $2015 - 16$ after paying all taxes is $R s . 6, 40, 000$ . He pays $R s . 2000$ per month for insurance and $20 %$ of his annual income into his provident fund. He puts aside $R s . 500$ per month for emergencies. How much money does he have form yearly spending?

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Solution

Annual income $= R s . 6, 40, 000$
Insurance premium $= 2000 \times 12 = R s . 24000$
Contribution to provident fund $= \frac{20}{100} \times 6, 40, 000 = R s . 1, 28, 000$
Amount saved for emergency $= 500 \times 12 = R s . 6000$
Total planned expenditure $= 24000 + 1, 28, 000 + 6000 = R s . 1, 58, 000$
Therefore,
Amount available for yearly expenses $= 6, 40, 000 - 1, 58, 000 = R s . 4, 82, 000$

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Shamrao's income in 2015−16 after paying all taxes is Rs. 6,40,000. He pays Rs. 2000 per month for insurance and 20% of his annual income into his provident fund. He puts aside Rs. 500 per month for emergencies. How much money does he have form yearly spending?

Shamrao's income in $2015 - 16$ after paying all taxes is $R s . 6, 40, 000$ . He pays $R s . 2000$ per month for insurance and $20 %$ of his annual income into his provident fund. He puts aside $R s . 500$ per month for emergencies. How much money does he have form yearly spending?