Question
A man spends 25% of his monthly salary on Rent and 32%
on Groceries. He invest remaining monthly salary in the ratio of 11: 5 in Mutual Funds and Fixed Deposits, If difference between his yearly mutual funds and fixed deposit amount is Rs 77400, then, find the amount he spends each month on Groceries products.Solution
Let the monthly income be 100% Total monthly salary spends on rent and groceries = 57% Remaining salary = (100 – 57)% = 43% ratio between mutual fund and fixed deposit = 11 : 5 Monthly income = 77400/12 = 6450 difference between mutual fund and fixed deposit ratio = 6 Therefore, 6 ≡ 6450 1 ≡ 1075 1075 × 16(11 + 5) ≡ 43% (1075 × 16)/43% ≡ 32% 1 ≡ {(1075 × 16)/43%} × 32% = Rs. 12800
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