Question

A philanthropist donates 20% of his wealth to a welfare organization and with 50% of his remaining wealth, he runs an NGO. The sum of money he donated and the money used in NGO is equivalent to 15 lakh. Find the total wealth of the philanthropist?
1. 25 lakh
2. 28 lakh
3. 30 lakh
4. 24 lakh

Answer 1

Correct Answer - Option 1 : 25 lakh

Given:

Donated Money = 20% of total wealth

Money used for NGO = 50% of [Total wealth – Donated money]

Donated Money + NGO money = 15 lakh

Calculation:

Let the total wealth be ‘x’.

∴ Donated money = 20% of x

NGO’s share = 50% of (x – 20% of x)

∵ Donated Money + NGO money = 1,500,000

∴ 20% of x + 50% of (x – 20% of x) = 1,500,000

⇒ (20x)/100 + 50/100[x – (20x)/100] = 1,500,000

⇒ 20x/100 + 50/100 × [(80x)/100] = 1,500,000

⇒ (20x)/100 + (40x)/100 = 1,500,000

⇒ (20x + 40x)/100 = 1,500,000

⇒ (60x)/100 = 1,500,000

⇒ X = (1,500,000 × 100)/60

⇒ X = 2,500,000

∴ Total wealth of the philanthropist is 25 lakh.