Question
Download Solution PDFShiva’s monthly salary is Rs. 75,000. He spends Rs. 12,000 on household items, Rs. 14,000 on LIC and mutual funds, Rs. 15,000 on his children’s education, and keeps Rs. 10,000 for miscellaneous expenses. His savings are Rs. 21,000 per month and he donates the rest of the amount to an orphanage. The percentage of his income that he donates is:
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Shiva’s monthly salary = Rs.75,000
Shiva’s savings = Rs.21,000
Calculation:
Shiva’s total expenditure = (12,000 + 14,000 + 15,000 + 10,000) = Rs.51,000
The amount Shiva donated to the orphanage
⇒ 75,000 - (51,000 + 21,000)
⇒ 75,000 - 72,000 = Rs.3,000
So
Required percentage = (3,000/75,000) × 100
⇒ 100/25 = 4%
∴ The correct answer is 4%.
Last updated on Jul 14, 2025
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