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 ?.
Let the monthly income be Rs x.
Money spent on children's education = 5% of x = `5/100x`
Money spent on shares = 14% of x = `14/100x`
Money deposited in banks = 3% of x = `3/100x`
Money spent on daily expenses = 40% of x = `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.