Question

An MBA student gets a fellowship from which he spends 70% on personal expenses and 20% on books, fees, etc. The remaining amount is saved and it amounts to Rs.4800 in a year. The value of the monthly fellowship is:

Answer 1

4800 is 10% yearly
then monthly followship is 4000

Answer 2

The value of the monthly fellowship is Rs 48000.

Given,

% of Amount spent on Personal expenses = 70%

% of Amount spent on books and fees = 20%

Rest Amount is saved which is = Rs 4800

To Find,

Total Monthly fellowship

Solution,

Let the amount of fellowship be 'x'

% of Amount spent on Personal expenses = 70%

% of Amount spent on books and fees = 20%

Amount Saved = x - 70% of x - 20% of x

Amount Saved = x - (7/10)x - (2/10)x

Amount Saved = x - (9/10)x

Amount Saved = (1/10)x

Amount Saved = Rs 4800

x/10 = 4800

x = Rs 48000

Therefore, the monthly fellowship is Rs 48000.

#SPJ2