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Sumit spends 15% of his monthly salary on rent 20% of remaining on tax and 8% of total salary on transport and 25% of remaining on other expenditure remaining amount he saved which is 90000 then find the annual income of sumit.

Sumit spends 15% of his monthly salary on rent 20% of remaining on tax and 8% of total salary on transport and 25% of remaining on other expenditure remaining amount he saved which is 90000 then find the annual income of sumit. Correct Answer  2400000

Solution:

Given: 

 Sumit spent on rent is = 15% of his monthly salary

Sumit spent on tax is = 20% of remaining salary

Sumit spent on transport = 8% of monthly salary

Sumit spent on other expenditure = 25% of remaining

Sumit saving is = 90000

Concept: A% = A/100

Let be assume sumit total monthly salary is = B

Now,

⇒ (15/100) × B + (20/100) × (85/100) × B + (8/100) × B + (25/100) × 60/100 × B = (55/100) × B

⇒ Then saving will be (45/100) × B = 90000

⇒ B = 20,0000 this is monthly salary of sumit we have to find his annual salary which is

⇒ 12 × B = 12 × 20,0000 = 24,00,000

∴ 24,00,000 would be correct answer.

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