A invests 80% of his income in mutual fund, real estate, and insurance in the ratio 3:5:7 respectively. Find his savings if he invests ₹24,000 in mutual fund.

₹1,00,000
₹50,000
₹30,000
₹40,000

Correct answer: ₹30,000

Solution

The mutual fund amount ₹24,000 represents 3 parts, so 1 part = ₹8,000. Total investment is 3+5+7 = 15 parts = ₹1,20,000, which is 80% of income; hence income = ₹1,50,000 and savings = 20% = ₹30,000.

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