A man spends 35% of his monthly income on food and 4/13 of the remaining income on transport. He incurs some other expenses but also saves Rs.6,300 per month, the latter being equal to 20% of the balance remaining just after spending on food and transport. What is his monthly income (in Rs.)?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 70000.
Let the monthly income = X
Given that
Amount spent on food = × X
Remaining income = × X
Amount spent on transport = of remaining income = × × X =
Amount saved = 6300 = 20% of the balance remaining just after spending on food and transport
The balance remaining just after spending on food and transport = X - (X + )
According to the question;
6300 = [X - (X + )]
Solving for X we get
⇒ 31500 × 20 = 9X
⇒ X = 70000
Hence, his monthly income is Rs. 70000.