Mr. Sharma spends 15% of his total income on rent and 75% of the remaining part on other expenses and still saves Rs. 1,700 monthly. What is his monthly income?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e. Rs. 8,000.
Let Mr. Sharma's total income be 400x
Amount he spent on rent = 15% of 400x = 60x
Remaining income = 400x - 60x = 340x
Amount of the remaining income he spent on other expenses = 75% of 340x = 255x
According to the question;
⇒ 340x - 255x = 1700
⇒ 85x = 1700
⇒ x = 20
Hence, total income = 400x = 400 × 20 = Rs 8000