Question

Nikhil spent 5% of his monthly income on his children’s education, invested 14% in shares, deposited 3% in a bank and used 40% for his daily expenses. He was left with a balance of ₹ 19,000. What was his income that month?

Answer 1

Let the monthly income of Nikhil be ₹ x. 

Nikhil invested 14% in shares and deposited 3% in a bank.

∴ Total investment = (14% + 3%) of x 

= 17% of x 

= \(\frac{17}{100}\)× x 

= 0.1 7 x 

Nikhil spent 5% on his children’s education and used 40% for his daily expenses. 

∴ Total expenditure = (5% + 40%) of x 

= 45% of x 

= \(\frac{45}{100}\)× x 

= 0.45x 

Amount left with Nikhil = 19,000

 Amount left with Nikhil = Income – (Total investment + Total expenditure) 

∴ 19000 = x – (0.17x + 0.45x)

∴ 19000 = x – 0.62x , 

∴ 19000 = 0.38x 

∴ \(x=\frac{19000}{0.38}\) =\(\frac{19000\times100}{0.38\times100}\) = \(\frac{1900000}{38}\)

∴ = 50000 

∴ The monthly income of Nikhil is ₹ 50000.