Question

A man spends 85% of his monthly income, and the remaining money is deposited in the savings account for 5 years and he gets a simple interest of Rs. 2160 at the rate of 12% per annum. Out of monthly expenditure, he spends 20% on rent, 15% on food. Out of the remaining he spends 50% on clothes and remaining on education. Find the 33.33% of money that is spent on food. (1) 1230 Rs. (2) 1530 Rs. (3) 1020 Rs. (4) 640 Rs.
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Answer 1

A man spends 85% of his monthly income, and the remaining money is deposited in the savings account for 5 years and he gets a simple interest of Rs. 2160 at the rate of 12% per annum then , the 33% of money that is spent on food will be  1020 (option c).