Nazeer spends 20% of his monthly income on housing, 25% of the remaining on education, and saves 10% of the remaining. If his monthly salary is ₹52,600, how much money does he save every month?
- A₹2,367
- B₹5,260
- C₹3,156
- D₹1,578
Solution & Step-by-step Explanation
Let Nazeer's total monthly income be I=₹52,600.
Spend on housing: 20% of income.
Remaining income after housing = (100%−20%)×I=80%×I
Spend on education: 25% of the remaining income.
Remaining income after education = (100%−25%)×(80%×I)=75%×80%×I
Savings: 10% of the remaining income.
Total Savings=10%×75%×80%×I
Substituting the values into the equation:
Total Savings=
100
10
×
100
75
×
100
80
×52600
Simplifying the percentage fractions:
Total Savings=
10
1
×
4
3
×
5
4
×52600
Total Savings=
10
1
×
5
3
×52600
Total Savings=
50
3
×52600
Total Savings=3×1052=₹3,156
Spend on housing: 20% of income.
Remaining income after housing = (100%−20%)×I=80%×I
Spend on education: 25% of the remaining income.
Remaining income after education = (100%−25%)×(80%×I)=75%×80%×I
Savings: 10% of the remaining income.
Total Savings=10%×75%×80%×I
Substituting the values into the equation:
Total Savings=
100
10
×
100
75
×
100
80
×52600
Simplifying the percentage fractions:
Total Savings=
10
1
×
4
3
×
5
4
×52600
Total Savings=
10
1
×
5
3
×52600
Total Savings=
50
3
×52600
Total Savings=3×1052=₹3,156