Every month Ali keeps aside Rs. X from his monthly salary for investing in PPF. His total investment in a
year in PPF is equal to 20% of his yearly salary. From the remaining monthly salary, he spends 30% on
various expenses and gives 20% to his wife. If out of his monthly salary he is still left with Rs.24,000, how
much does he invest in PPF in a year ?
Answers
Answered by
1
Taking yearly figures
PPF investment = 20%
Remainder = 80%
Various expenses = 30/100 x 80 = 24%
Wife = 20/100 x 80 = 16%
Total percentage = 20 + 24 + 16 = 60%
The percentage he’s still left with = 40%
The amount he’s left with in a year = 24000 x 12 = 288000
His total salary in a year = 100/40 x 288000 = 720,000
Amount he invests in PPF = 20/100 X 720,000 = 144,000
PPF investment = 20%
Remainder = 80%
Various expenses = 30/100 x 80 = 24%
Wife = 20/100 x 80 = 16%
Total percentage = 20 + 24 + 16 = 60%
The percentage he’s still left with = 40%
The amount he’s left with in a year = 24000 x 12 = 288000
His total salary in a year = 100/40 x 288000 = 720,000
Amount he invests in PPF = 20/100 X 720,000 = 144,000
Similar questions