Ravinder invests Rs.3,750 which is equal to 15% of his monthly salary in a medical insurance policy. Later he invests 25% and 8% of his monthly salary on a child education policy, and mutual funds, respectively. The total amount left with him is:
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e. Rs.13,000.
| Understanding/Application |
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Let the monthly salary of Ravinder be x. The amount he invested in medical insurance = Rs. 3750 Percentage of the amount invested in medical insurance policy = 15% 15x/100 = 3750 x = 25000 |
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Percentage of salary left with him after investing in the medical insurance policy, mutual funds, and child education policy = 100 - 15 - 25 - 8 = 52% Total amount left with him = 52(25000)/100 = Rs. 13000 |