Mr. A invested ₹15,500 in stocks and ₹20,500 in mutual funds. If the uninvested amount is 40% of his total savings, what was his total savings?
Show answer & explanation
Correct answer: C
Explanation
Total investment in stocks + mutual funds = 15,500 + 20,500
= ₹36,000
Uninvested amount = 40% of total savings
Therefore, invested amount = 60% of total savings
Let total savings = ₹x
60% of x = 36,000
60x/100 = 36,000
x = 36,000 × 100/60 = ₹60,000