# Nikhil spent 5% of his monthly income on his children's education, invested 14% in shares, deposited 3% in a bank and used 40% for his daily expenses. - Algebra

Sum

Nikhil spent 5% of his monthly income on his children's education, invested 14% in shares, deposited 3% in a bank and used 40% for his daily expenses. He was left with a
balance of Rs. 19,000. What was his income that month ?.

#### Solution

Let the monthly income be Rs x
Money spent on children's education = 5% of = 5/100x
Money spent on shares = 14% of = 14/100x
Money deposited in banks = 3% of = 3/100x
Money spent on daily expenses = 40% of = 40/100x
Savings = Rs 19,000
5/100x + 14/100x + 3/100x + 40/100x + 19000 = x
⇒ 62/100x + 19000 = x
⇒  x-62/100x = 19000
⇒ 38/100x = 19000
⇒ x = 50000.

Concept: Saving and Investment
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#### APPEARS IN

Balbharati Mathematics 1 Algebra 9th Standard Maharashtra State Board
Chapter 6 Financial Planning
Practice set 6.1 | Q 3 | Page 98