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ExamsIBPS POGeneral Awareness

The salary of a man is Rs. 50,000 per month. He spends 20% on rent, 10% of the remaining amount on bills, and 20% of the further remaining amount on miscellaneous expenses. From the remaining amount, he gives some money to his wife and invests the rest in mutual funds in the ratio 5:4. Find how much less or more the amount spent on rent is than the amount invested in mutual funds.

  1. Rs. 2800
  2. Rs. 2400
  3. Rs. 3000
  4. Rs. 3200

Correct answer: Rs. 3000

Solution

Rent is 20% of 50,000, so it is Rs. 10,000. After bills and miscellaneous expenses, the remaining amount is split in the ratio 5:4 between wife and mutual funds, giving the mutual fund investment as Rs. 7,000. The difference between rent and mutual funds is Rs. 3,000.

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