Correct Answer - Option 4 : Neither a nor b
Given∶
50% of his income spends on parties.
20% of the remaining spends on food.
Savings are 1/4 of the remaining amount after spending on parties and food.
Annual savings = Rs. 36600
Formula Used∶
Basics of percentage.
Calculation∶
According to question,
Money spend on parties = 50%
Remaining amount = 50%
Money spend on food = 20% of 50% = 10%
Remaining amount = (100 - 50 -10) = 40%
Savings = 1/4 of 40% = 36600
⇒ 10% = 36600
100% = 366000
So his monthly income = 366000/12 = Rs. 30,500
∴ The correct option is 4 (neither a and b).