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Sumit spends 15% of his monthly salary on rent, 20% of the remaining amount on tax, 8% of the total salary on transport, and 25% of the remaining amount on other expenditure. The remaining amount is ₹90,000. Find Sumit's annual income.
- 2100000
- 22000000
- 2300000
- 24000000
Correct answer: 24000000
Solution
Let monthly salary be \(x\). After rent, remaining is \(0.85x\); after tax, remaining is \(0.8 \times 0.85x = 0.68x\). Transport is 8% of total salary, so remaining becomes \(0.68x - 0.08x = 0.60x\), and after other expenditure, saved amount is \(0.75 \times 0.60x = 0.45x\). Since \(0.45x = 90{,}000\), monthly salary is \(200{,}000\), so annual income is \(2{,}400{,}000\).
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