Pranav gave 30% of the money he had to his wife, and 86% of the remaining to his two children. Half of the amount left was spent on other things, and the remaining amount of ₹98,000 was deposited in the bank. How much money did he have initially?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. ₹20,00,000.
Let the total money Pranav had = Rs 100x
Money left after giving 30% to his wife = 70% of 100x = 70x
Money left after giving 86% to his two children = 14% of 70x = 9.8x
Half the amount spent on other things = 4.9x
The amount deposited in the bank = 4.9x
According to the question;
⇒ 4.9x = 98000
⇒ x = 20000
Hence, amount he had initially = 100x = 100 × 20000 = 2000000