#### Chapters

#### Balbharati Balbharati Class 9 Mathematics 1 Algebra

## Chapter 6: Financial Planning

#### Chapter 6: Financial Planning Exercise Practice set 6.1 solutions [Page 98]

Alka spends 90% of the money that she receives every month, and saves Rs. 120. How much money does she get monthly ?

Sumit borrowed a capital of Rs. 50,000 to start his food products business. In the first year he suffered a loss of 20%. He invested the remaining capital in a new sweets business and made a profit of 5%. How much was his profit or loss computed on his original capital ?

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 ?.

Mr. Sayyad kept Rs. 40,000 in a bank at 8% compound interest for 2 years. Mr. Fernandes invested Rs. 1,20,000 in a mutual fund for 2 years. After 2 years, Mr. Fernandes got Rs. 1,92,000. Whose investment turned out to be more profitable ?

Sameera spent 90% of her income and donated 3% for socially useful causes. If she left with Rs. 1750 at the end of the month, what was her actual income ?

#### Chapter 6: Financial Planning Exercise Practice set 6.2 solutions [Page 106]

Observe the table given below. Check and decide, whether the individuals have to pay income tax.

Sr.No. | Individuals | Age | Taxable Income ( Rs.) | Will have to pay income tax or not |

i | Miss Nikita | 27 | Rs. 234,000 | ..... |

ii | Mr.Kulkarni | 36 | Rs.327,000 | ..... |

iii | Miss Mehta | 44 | Rs. 582,000 | ..... |

iv | Mr. Bajaj | 64 | Rs.840,000 | ..... |

v | Mr. Desilva | 81 | Rs. 450,000 | ..... |

Rs.327000 |

Mr. Kartarsingh (age 48 years) works in a private company. His monthly income after deduction of allowances is Rs. 42,000 and every month he contributes Rs. 3000 to GPF.

He has also bought Rs. 15,000 worth of NSC (National Savings Certificate) and donated Rs. 12,000 to the PM's Relief Fund. Compute his income tax.

#### Chapter 6: Financial Planning Exercise Problem Set 6 solutions [Page 107]

Write the correct alternative answer for each of the following quesitons.

For different types of investments what is the maximum permissible amount under section 80C of income tax ?

1,50,000 rupees

2,50,000 rupees

1,00,000 rupees

2,00,000rupees

Write the correct alternative answer for each of the following quesitons.

A person has earned his income during the financial year 2017-18. Then his assessment year is ....

2016-17

2018-19

2017-18

2015-16

Mr. Shekhar spends 60% of his income. From the balance he donates Rs. 300 to an orphanage. He is then left with Rs. 3,200. What is his income ?

Mr. Hiralal invested Rs. 2,15,000 in a Mutual Fund. He got Rs. 3,05,000 after 2 years. Mr. Ramniklal invested Rs. 1,40,000 at 8% compound interest for 2 years in a bank. Find out the percent gain of each of them. Whose investment was more profitable ?

At the start of a year there were Rs. 24,000 in a savings account. After adding Rs. 56,000 to this the entire amount was invested in the bank at 7.5% compound interest. What will be the total amount after 3 years ?

Mr. Manohar gave 20% part of his income to his elder son and 30% part to his younger son. He gave 10% of the balance as donation to a school. He still had Rs. 1,80,000 for himself. What was Mr. Manohar's income ?

Kailash used to spend 85% of his income. When his income increased by 36% his expenses also increased by 40% of his earlier expenses. How much percentage of his earning he saves now ?

Total income of Ramesh, Suresh and Preeti is 8,07,000 rupees. The percentages of their expenses are 75%, 80% and 90% respectively. If the ratio of their savings is 16 : 17 : 12, then find the annual saving of each of them.

Compute the income tax payable by following individuals.(i) Mr. Kadam who is 35 years old and has a taxable income of Rs. 13,35,000.

(ii) Mr. Khan is 65 years of age and his taxable income is Rs. 4,50,000.

(iii) Miss Varsha (Age 26 years) has a taxable income of Rs. 2,30,000.

## Chapter 6: Financial Planning

#### Balbharati Balbharati Class 9 Mathematics 1 Algebra

#### Textbook solutions for Class 9

## Balbharati solutions for Class 9 Algebra chapter 6 - Financial Planning

Balbharati solutions for Class 9 chapter 6 (Financial Planning) include all questions with solution and detail explanation. This will clear students doubts about any question and improve application skills while preparing for board exams. The detailed, step-by-step solutions will help you understand the concepts better and clear your confusions, if any. Shaalaa.com has the Maharashtra State Board Balbharati Class 9 Mathematics 1 Algebra solutions in a manner that help students grasp basic concepts better and faster.

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Concepts covered in Class 9 Algebra chapter 6 Financial Planning are Computation of Income Tax, Income Tax, Levying of Taxes Or Taxation, Saving and Investment, Introduction of Financial Planning.

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