Question

raja gives 30% of his salary to his mother, 40% of the remaining salary he invests in an insurance scheme and ppf in the respective ratio of 4 : 3 and the remaining he keeps in his bank account. if the difference between the amount he gives to his mother and that he invests in insurance scheme is rs. 8400, how much is raja’s salary? 60,000 b) 62,000 c)64,000 d) 65,000

Answer 1

Answer:

60,000

Step-by-step explanation:

Let his salary be x.

He gives to his mother = x × 30/100 = 3x/10

Remaining salary = x - 3x/10 = 7x/10

Invests in insurance and ppf = 40% of remaining =

7x/10 × 40/100 = 28x/ 100

Let he invest in insurance and ppf be 4y and 3y respectively. Then,

4y + 3y = 28x/100

7y = 28x/100

y = 28x/100 × 1/7 = 4x/100.

Total Investment in insurance scheme = 4y = 16x/100

According to question,

3x/10 - 16x/100 = 8400

14x/100 = 8400

x = 8400 × 100/14 = 600 × 100 = 60,000