Question 53

The respective ratio between the monthly salary of Om and that of Pihu is 7 : 9. Om and Pihu, both save 20% and 40% of their monthly salary respectively. Om invest $$\frac{1}{2}$$ of his savings in PPF and Pihu invests $$\frac{7}{9}$$ th of his savings in PPF. If Om and Pihu together saved Rs.17,500/in PPF, what is Pihu's monthly salary?

Solution

Let the monthly salary of Om be 7x
Monthly salary of Pihu = 9x
Savings of Om = $$7x \times \frac{20}{100} = \frac{7x}{5}$$
Savings of Pihu = $$9x \times \frac{40}{100} = \frac{18x}{5}$$
Given that,
$$\frac{1}{2}\times \frac{7x}{5} + \frac{7}{9}\times \frac{18x}{5} = 17500$$
$$x = 5000$$
Pihu's monthly salary $$= 9x = $$Rs. 45000


Create a FREE account and get:

  • Banking Quant Shortcuts PDF
  • Free Banking Study Material - (15000 Questions)
  • 135+ Banking previous papers with solutions PDF
  • 100+ Online Tests for Free

cracku

Boost your Prep!

Download App