Question
Download Solution PDFA spends 40% of his monthly income on rent, 1/3rd of the remaining he spends on groceries. He invested the remaining income in three different schemes X, Y and Z in the ratio of 2 : 3 : 5 respectively. The difference between amount invested in scheme Y and Z is Rs 4000.
Quantity I: Find the difference between A’s monthly income and amount invested in scheme Z.
Quantity II: 30000
- Quantity I > Quantity II
- Quantity I < Quantity II
- Quantity I ≥ Quantity II
- Quantity I ≤ Quantity II
- Quantity I = Quantity II or no relation
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFCalculation:
Let Income of A is 100x.
40x he spends on rent.
Rest amount is 100x – 40x = 60x
Amount he invest on scheme is 60x × 2 /3 = 40x
ATQ, 40x × (2/10) = 4000
Or, x = 4000 /8 = 500
Quantity I
A’s monthly income is 500 × 100 = 50000
Amount invest on scheme Z = 400 × 500 × [5/10] =10000
So, required difference is 50000- 10000 = 40000
Quantity II = 30000
⇒ 40000 > 30000
Hence Quantity I > Quantity II.