New Enroll in our GIC Finance Online Course Here!

    Register

    Question

    'M' allocates 20% of his income to food and 40% of the

    remaining amount to rent. The expenditure on education is three times higher than his savings, which constitute 1/18th of his income. In addition, his miscellaneous expenses, excluding food, rent, and education, amount to Rs. 9100. Determine the combined amount spent by 'M' on food and rent.
    A Rs.23500 Correct Answer Incorrect Answer
    B Rs.13400 Correct Answer Incorrect Answer
    C Rs.23400 Correct Answer Incorrect Answer
    D Rs.25620 Correct Answer Incorrect Answer
    E none of these Correct Answer Incorrect Answer

    Solution

    ATQ, Let the total income of 'M' be Rs.'18a' Therefore, savings of 'M'= (1/18) × 18a = Rs.'a' Amount spend by him on education = 4 × a = Rs. 4a Amount spent by him on food = 0.2 × 18a = Rs. 3.6a Amount spent by him on rent = 0.4 × 0.8 × 18a = Rs. 5.76a ATQ, 18a – (a + 4a + 3.6a + 5.76a) = 9100 Or, a = 9100/3.64 = Rs. 2500 Required spending = (5.76a + 3.6a) = 9.36a = Rs.23400

    Practice Next

    Relevant for Exams: