Gita purchases an apartment and pays EMI for that. Her monthly income is ₹80,000. She spends 15% on the education of her children, 40% on household affairs, sends 10% to GPF, saves 15% in a savings bank account and pays the rest of the amount as EMI. How much EMI does she pay?
Show answer & explanation
Correct answer: C
Explanation
the correct answer is option 3 i.e. ₹16,000
Monthly income of Gita = Rs. 80000
Percentage of income she pays as EMI = 100 - 15 - 40 - 10 - 15 = 20%
Amount she pays as EMI = 205 of 80000 = 80000(20)/100 = Rs. 16000