The ratio of monthly income to the expenditure of a family is 14 : 11. If the monthly savings of the family is ₹ 13,500, the monthly income of the family is:
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. ₹ 63,000.
Given:
Income : expenditure = 14 : 11
Savings = ₹ 13,500
Formula used:
Savings = Income - expenditure ---- (1)
Calculations:
Let the income and expenditure be 14x and 11x
Using equation (1), we get
⇒ Savings = 14x - 11x
⇒ 3x = 13500
⇒ x = 4500
Income = 14x = 14 × 4500
⇒ 63000