Question

Ravinder invests Rs. 3,750 which is equal to 15% of his monthly salary in a medical insurance policy. Later he invests 25% and 8% of his monthly salary on a child education policy, and mutual funds, respectively. The total amount left with him:
1. Rs. 12,000
2. Rs. 13,000
3. Rs. 15,000
4. Rs. 8,000

Answer 1

Correct Answer - Option 2 : Rs. 13,000

Given:

Ravinder invests Rs. 3,750 which is equal to 15% of his monthly salary in a medical insurance policy. And invested 25% in child Education policy and 8% in mutual funds.

Calculation:

Let us assume that Ravinder’s monthly Salary 100% be Rs S

⇒ 3,750 = 15% of S      ____( 1 )

⇒ 3,750/15 = 1% of S

⇒ 250 = 1% of S

∴ S = Rs 25,000

⇒ 25% of S = Rs 6,250 ( ∵ 25× 250 )      ____( 2 )

⇒ 8% of S = Rs 2000 ( ∵ 25× 8 )      ____( 3 )

As total Salary ( S ) = Rs 25,000

After subtracting ( 1 ), ( 2 ), ( 3 )

∴ We get Left salary is Rs 13,000