Shiya invests ₹1,53,000, which is 30% of her annual income, in mutual funds. What is her monthly income (in ₹)?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e 42,500.
Shiya's investment of ₹1,53,000 represents 30% of her annual income.
Let her annual income be x
So,
⇒ 0.30 × x = 153000
⇒ x = 153000/0.30
⇒ x = 15300000/30
⇒ x = 310000
Therefore, Shiya's annual income is ₹5,10,000
Now, her monthly income = 510000/12 = ₹42500
So, Shiya's monthly income is ₹42,500