Question

1Q:
A man’s average monthly expenditure for the first four months of the year was Rs. 231.25. For the next five months, the average monthly expenditure was Rs. 22.75 more than what it was during the first four months. If the person spent Rs. 605 in all during the remaining three months of the year, find what percentage of his annual income of Rs. 3500 did he save in the year?

A) 10%
B) 15%
C) 20%
D) 25%

Answer: C) 20%

Explanation:
A man's average monthly expenditure for the first four months of the year = Rs.231.25.
For four month = 231.25 * 4 = Rs. 925
For next five month he spend = 231.25 + 22.75 for one month.
In five month he spend = (231.25 + 22.75) X 5 = 1270
If the person spent Rs. 605 in all during the remaining three months of the year,
Total expense = 925+1270+605= 2800
Saving = 3500-2800 = 700
% saving = 700/3500 * 100 = 20%

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Answer 1

Answer:

correct answer

Answer 2

Given: A man’s average monthly expenditure for the first four months of the year was Rs. 231.25. For the next five months, the average monthly expenditure was Rs. 22.75 more than what it was during the first four months. If the person spent Rs. 605 in all during the remaining three months of the year.

To find: What percentage of his annual income of Rs. 3500 did he save in the year.

Solution: He saved 68.85% percent of his annual income of Rs. 3500 in the year.

According to the question, the average monthly expenditure for the first four months of the year was Rs. 231.25. Since the average monthly expenditure for the next five months was Rs. 22.75 more. The average monthly expenditure for the next five months can be calculated as shown below.

$231.25 + 22.75 = 254$

Thus, for the next 5 months, his expenditure was Rs. 254. Now, it is also given that the expenditure during the rest of the months was Rs. 605. Thus, his total expenditure in the entire year can be calculated as follows.

$231.25+254+605=1090.25$

Now, in order to calculate his savings in the entire year, the expenditure must be subtracted from the total income.

$3500 - 1090.25 = 2409.75$

Now, the percentage of his savings can be calculated as shown below.

$\frac{2409.75}{3500} *100 = 68.85$

Therefore, he saved 68.85% percent of his annual income of Rs. 3500 in the year.