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. 19,000. What was his income that month ?​

Answer 1

Answer:

Let the monthly income of Nikhil be Rs x. Nikhil invested 14% in shares and deposited 3% in a bank. ∴ Total investment = (14% + 3%) of x = 17 % of x = (17/100) × x = 0.17x Nikhil spent 5% on his children’s education and used 40% for his daily expenses. ∴ Total expenditure = (5% + 40%) of x = 45% of x = (45/100) × x = 0.45x Amount left with Nikhil = 19,000 Amount left with Nikhil = Income – (Total investment + Total expenditure) ∴ 19000 = x – (0.17x + 0.45x) ∴ 19000 = x – 0.62x, ∴ 19000 = 0.38x = 50000 ∴ The monthly income of Nikhil is Rs 50000.Read more on Sarthaks.com - https://www.sarthaks.com/848288/nikhil-spent-his-monthly-income-on-his-childrens-education-invested-14-shares-deposited

Step-by-step explanation:

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