Question 20

Vishal invested 3/11th part of his monthly income in stocks share and that of 1/4th part in mutual fund. He spent the remaining amount on domestic needs and apparel in the ratio 5 : 3 respectively. The expenditure on domestic needs was Rs.2100 What is his annual income ?

Solution

Let the annual income = Rs. $$x$$

=> Total investments in stocks and mutual funds = $$\frac{3x}{11} + \frac{x}{4}$$

= Rs. $$\frac{23x}{44}$$

=> Remaining amount = $$x - \frac{23x}{44} = \frac{21x}{44}$$

Expenditure on domestic needs = $$\frac{5}{8} \times \frac{21x}{44} = 2100$$

=> $$x = \frac{2100 * 44 * 8}{5 * 21}$$

=> $$x = 7040$$

$$\therefore$$ Annual income = 12 * 7040 = Rs. 84,480

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