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Ram spent 30% of his monthly income on Food, 10% on room rent, He saves 25% from remaining amount, After that remaining amount he invested in Mutual funds and life insurance policy in ratio of 5 : 4 respectively and difference is Rs.2,500, Find monthly income of Ram.
  • a)
    ?Rs.30,000
  • b)
    ?Rs.40,000
  • c)
    Rs.50,000
  • d)
    ?Rs.45,000
  • e)
    None of these
Correct answer is option 'C'. Can you explain this answer?
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Ram spent 30% of his monthly income on Food, 10% on room rent, He sav...
Given
Expenditure on food = 30%
Expenditure on room rent = 10%
Ram saves 25% from remaining amount
After saving Ram invest in Mutual funds and life insurance policy in ratio of 5 : 4 respectively and difference is Rs.2,500
Concept:
If A is x% of B
Then, x% = (A/B) × 100
Calculation:
Let, Ram’s monthly income = Rs.100x
Expenditure on food = (30/100) × 100x
? Rs.30x
Expenditure on room rent = (10/100) × 100x
? Rs.10x
Remaining amount after expend on room rent = 100x – 30x – 10x
? Rs.60x
Saving amount of Ram = (25/100) × 60x
? Rs.15x
Remaining amount after saving Rs.15x = 60x – 15x
? Rs.45x
Now, Rs.45x invest in Mutual funds and life Insurance policy in ratio of 5 : 4
Invest in Mutual funds = (5/9) × 45x
? Rs.25x
Invest in Insurance policy = (4/9) × 45x
? Rs.20x
Amount Invested in Mutual funds – Amount Invested in Insurance policy = Rs.2500
25x – 20x = 2500
? 5x = 2500
? x = 500
Ram’s monthly income = 100 × 500
? Rs.50,000
? Monthly income of Ram is Rs.50,000.
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Community Answer
Ram spent 30% of his monthly income on Food, 10% on room rent, He sav...
Given:
- Ram spent 30% of his monthly income on food.
- Ram spent 10% of his monthly income on room rent.
- Ram saves 25% from the remaining amount after deducting expenses for food and rent.
- Ram invested the remaining amount in mutual funds and life insurance policy in a ratio of 5:4, with a difference of Rs. 2,500.

To find: Monthly income of Ram.

Let's assume Ram's monthly income as 'x'.

Expenses on Food:
Ram spent 30% of his monthly income on food.
So, the amount spent on food = (30/100) * x = 0.3x.

Expenses on Room Rent:
Ram spent 10% of his monthly income on room rent.
So, the amount spent on room rent = (10/100) * x = 0.1x.

Remaining Amount:
The remaining amount after deducting expenses for food and rent = x - (0.3x + 0.1x) = 0.6x.

Savings:
Ram saves 25% from the remaining amount.
So, the savings = (25/100) * (0.6x) = 0.15x.

Investment in Mutual Funds:
Ram invested the remaining amount in mutual funds and life insurance policy in a ratio of 5:4.
Let the amount invested in mutual funds be 5y.
Then, the amount invested in life insurance policy = 4y.

Given that the difference between the two investments is Rs. 2,500.
So, 5y - 4y = 2,500.
Simplifying, we get y = 2,500.

Amount invested in Mutual Funds:
5y = 5 * 2,500 = 12,500.

Amount invested in Life Insurance Policy:
4y = 4 * 2,500 = 10,000.

Total Investment:
Total investment = Amount invested in Mutual Funds + Amount invested in Life Insurance Policy
Total investment = 12,500 + 10,000 = 22,500.

Remaining Amount after Investment:
The remaining amount after investment = Savings - Total Investment
The remaining amount after investment = 0.15x - 22,500.

Given that the difference between the remaining amount after investment and the remaining amount is Rs. 2,500.
So, 0.15x - 22,500 - 0.6x = 2,500.
Simplifying, we get 0.45x = 25,000.
Dividing by 0.45 on both sides, we get x = 55,555.56.

Therefore, the monthly income of Ram is Rs. 55,555.56, which is not among the given options.

Hence, the correct answer is e) None of these.
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Ram spent 30% of his monthly income on Food, 10% on room rent, He saves 25% from remaining amount, After that remaining amount he invested in Mutual funds and life insurance policy in ratio of 5 : 4 respectively and difference is Rs.2,500, Find monthly income of Ram.a)?Rs.30,000b)?Rs.40,000c)Rs.50,000d)?Rs.45,000e)None of theseCorrect answer is option 'C'. Can you explain this answer?
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Ram spent 30% of his monthly income on Food, 10% on room rent, He saves 25% from remaining amount, After that remaining amount he invested in Mutual funds and life insurance policy in ratio of 5 : 4 respectively and difference is Rs.2,500, Find monthly income of Ram.a)?Rs.30,000b)?Rs.40,000c)Rs.50,000d)?Rs.45,000e)None of theseCorrect answer is option 'C'. Can you explain this answer? for Banking Exams 2024 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about Ram spent 30% of his monthly income on Food, 10% on room rent, He saves 25% from remaining amount, After that remaining amount he invested in Mutual funds and life insurance policy in ratio of 5 : 4 respectively and difference is Rs.2,500, Find monthly income of Ram.a)?Rs.30,000b)?Rs.40,000c)Rs.50,000d)?Rs.45,000e)None of theseCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Banking Exams 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Ram spent 30% of his monthly income on Food, 10% on room rent, He saves 25% from remaining amount, After that remaining amount he invested in Mutual funds and life insurance policy in ratio of 5 : 4 respectively and difference is Rs.2,500, Find monthly income of Ram.a)?Rs.30,000b)?Rs.40,000c)Rs.50,000d)?Rs.45,000e)None of theseCorrect answer is option 'C'. Can you explain this answer?.
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