The ratio of Mr. Arnav's monthly income to expenditure is 5:4,. For Mr. Suhas the same figure is 3:2. also, 4% of Suhas monthly income is equal to 7% of Arnav's monthly income. if Arnav's monthly expenditure is 96,000 rupees
(i) Find Suhas's annual income.
(ii) Saving made by Mr. Arnav and Mr. Suhas
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Answer:-
Let the monthly income & expenditure of Arnav be Rs. 5x & Rs. 4x.
And, Let the monthly income & expenditure of Suhas be Rs. 3y and Rs. 2y.
Given:-
Arnav's monthly expenditure = Rs. 96,000
⟹ 4x = 96000.
⟹ x = 96000/4
⟹ x = 24000
Hence,
Also given that,
4% of Suhas monthly income = 7% of Arnav's monthly income.
⟹ (4/100) * 3y = (7/100) * 1,20,000
⟹ 4* 3y = 7 * 1,20,000
⟹ 12y = 8,40,000
⟹ y = 840000/12
⟹ y = 70000
Hence,
Now,
We have to find the annual income of Suhas i.e., total income for 12 months.
So,
Also,
We know,
Savings = Income - Expenditure
⟹ Monthly Savings of Arnav = 1,20,000 - 96,000 = Rs. 24,000
⟹ Monthly Savings of Suhas = 2,10,000 - 1,40,000 = Rs. 70,000
∴