Ramesh spends 40% of his monthly salary on food, 18% on house rent, 12% on entertainment, and 5% on conveyance, But due to a family function, has to borrow Rs 16,000 from a money lender to meet the expenses of Rs 20,000. His monthly salary is :
Show answer & explanation
Correct answer: C
Explanation
The correct answer is Option 3 i.e. Rs16,000.
Let the Monthly income be 100%
Ramesh spends 40% of his monthly salary on food, 18% on house rent, 12% on entertainment, and 5% on conveyance
Money left after spending = 100% - (40% + 18% + 12% + 5%)
Money left = 100% - 75% = 25%
Ramesh party expenses were Rs. 20,000 and he borrowed Rs. 16,000
So, he had Rs. 4,000 now
So,
25% = 4000
⇒ 100% = 4000 × (100/25)
⇒ 100% = 16000
Thus,
The monthly income of Ramesh is Rs. 16,000