Question

Nikhil spent 5% of his monthly income on his children's education invested 14% in shares , deposited 3% in a bank and used 40% for his daily expenses. He was left with a balance of Rs 19000. What was his income that month.Please i need it fast .Please solve step by steps.

Answer 1

I hope now it would be easy for you.

Answer 2

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Let Nikhil's monthly income be ₹$x$.

Nikhil's expenses :

(i) Children's education : 5%

(ii) Investment in shares : 14%

(iii) deposited in a bank : 3%

(iv) daily expenses : 40%

∴ Total expenses = $(5x+14+3+40)%$ = 62% of monthly income.

∴ Total monthly expenses = ₹$\frac {62x}{100}$

Balance = income - expenditure.

∴ 19000 =

$x - \frac{62x}{100}$

∴ 19000 × 100 = $100x-62x$

...(multiplying both the sides by 100)

∴ 19000 × 100 = 38$x$

∴ $x$ = $\frac{19000×100}{38}$ = 50000

Ans : Nikhil's monthly income is ₹ 50,000.