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On an average Meenu uses 15% of her monthly salary for shopping, going to restaurants and malls. The remaining 40% goes towards household expenses, and 45% goes to his savings. If in a month, she spends Rs.40,000 on the house, what is her annual income?
1. Rs. 1020000
2. Rs. 1400000
3. Rs. 12,00,000
4. Rs. 1000000 

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Correct Answer - Option 3 : Rs. 12,00,000

Given:

Salary spent on shopping, going to restaurants and malls = 15%

Remaining salary on household expenses = 40%

Salary goes to savings = 45%

Salary spent on the house = Rs. 40,000

Concept used:

1 year = 12 months

Calculation:

According to the question

⇒ 40% = 40,000

⇒ 100% = (40,000 × 100/40)

⇒ Rs. 100,000

Now,

Her annual income = Rs. (100,000 × 12)

⇒ Rs. 12,00,000

∴ The required annual income is Rs. 12,00,000

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