Question 5

Ravi invests 50% of his monthly savings in fixed deposits. Thirty percent of the rest of his savings is invested in stocks and the rest goes into Ravi's savings bank account. If the total amount deposited by him in the bank (for savings account and fixed deposits) is Rs 59500, then Ravi's total monthly savings (in Rs) is

Name: Ravi invests 50% of his monthly savings in fixed deposits. Thirty percent of the rest of his savings is invested in stocks and the rest goes into Ravi's savings bank account. If the total amount deposited by him in the bank (for savings account and fixed deposits) is Rs 59500, then Ravi's total monthly savings (in Rs) is
Uploaded: July 3, 2020, 10:17 a.m.
Duration: 2 min 25 s
Description: Ravi invests 50% of his monthly savings in fixed deposits. Thirty percent of the rest of his savings is invested in stocks and the rest goes into Ravi's savings bank account. If the total amount deposited by him in the bank (for savings account and fixed deposits) is Rs 59500, then Ravi's total monthly savings (in Rs) is

Correct Answer: 70000

Solution

Let his total savings be 100x.

He invests 50x in fixed deposits. 30% of 50x, which is 15x is invested in stocks and 35x goes to savings bank.

It is given 85x = 59500

x = 700

Hence, 100x = 70000

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