Question

The monthly income of Tom is$₹120000$. He spends $\frac{1}{6}$his income on the education of his children, and $\frac{1}{3}$on the payment of his housing-loan installment. Of the remaining amount, he spends $\frac{1}{4}$on food and $\frac{2}{5}$on the rest items. Find the sum of money left with him.

Answer 1

Step $1.$Find the money spend on education

Given the monthly income of Tom is $₹120000$

He spends $\frac{1}{6}$his income on the education of his children,

Amount spend on education$=\frac{1}{6}\times 120000=$$₹20000$

Step $2.$Find the money spend on loan

Also given $\frac{1}{3}$on the payment of his housing-loan installment.

Housing loan installement$=\frac{1}{3}\times 120000=$$₹40000$

Remaining amount$=\mathrm{Monthly}\mathrm{income}-(\mathrm{Amount}\mathrm{spend}\mathrm{on}\mathrm{education}+\mathrm{housing}\mathrm{installement})$

$$\begin{gathered} =120000-\left(20000+40000\right) \\ =120000-6000 \\ =60000 \end{gathered}$$

$\therefore$The remaining amount is $₹60000$

Step $3.$Find the money spend on food and rest items

Of the remaining amount, he spends $\frac{1}{4}$on food,

Amount spend on food$=\frac{1}{4}\times 60000=$ $₹15000$

And $\frac{2}{5}$on the rest items,

Amount spent on the rest of items$=\frac{2}{5}\times 60000=2\times 12000=$ $₹24000$

Step $4.$Find the money left with him

The sum of money left with him $=$ Remaining Amount $-$(Amount spent on food $+$ Amount spent on the rest of items)

$$\begin{gathered} =60000-(15000+24000) \\ =60000-39000 \\ =21000 \end{gathered}$$

Hence, sum of money left with him is $₹21000$