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Rakesh spent 30 percent of his monthly income on food items. Of the remaining amount he spent 60 percent on clothes and bills. Now he save fiveseventh of the remaining amount and the he saves 120000 yearly, then find his monthly income.
  • a)
    40000
  • b)
    50000
  • c)
    60000
  • d)
    70000
  • e)
    None of these
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
Rakesh spent 30 percent of his monthly income on food items. Of the re...
Answer – 2. 50000 Explanation : Let monthly income is P (70/100)*P*(40/100)*5/7 = 10000
P = 50000
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Most Upvoted Answer
Rakesh spent 30 percent of his monthly income on food items. Of the re...
Answer – 2. 50000 Explanation : Let monthly income is P (70/100)*P*(40/100)*5/7 = 10000
P = 50000
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Community Answer
Rakesh spent 30 percent of his monthly income on food items. Of the re...
Given, Rakesh spent 30% of his monthly income on food items.

Let us assume Rakesh's monthly income be x.

Then, he spent 0.3x on food items.

The remaining amount is (1-0.3)x = 0.7x.

Of the remaining amount, he spent 60% on clothes and bills.

Therefore, he spent 0.6(0.7x) = 0.42x on clothes and bills.

The amount he saved is the remaining amount after spending on food items, clothes, and bills.

So, the amount he saved is (0.7x - 0.42x) = 0.28x.

Given, he saves 5/7 of the remaining amount.

So, (5/7) * 0.28x = 120000.

Solving for x, we get x = 50000.

Therefore, Rakesh's monthly income is 50000.

Hence, option (B) is the correct answer.
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