Question
Download Solution PDFManjit’s salary is ₹10,000 per month. He spends ₹6,000 on house rent and ₹3,000 on bills, and the rest of the amount is his monthly savings. Find his savings (in ₹) in a year, if in the month of his birthday, he spent all his monthly savings on birthday
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Manjit's monthly salary = ₹10,000
House rent = ₹6,000
Bills = ₹3,000
Monthly savings = Remaining salary after expenses
Spent birthday month savings = ₹0 savings for that month
Formula used:
Monthly savings = Monthly salary - (House rent + Bills)
Yearly savings = (Monthly savings × 12) - Birthday month savings
Calculation:
Monthly savings = ₹10,000 - (₹6,000 + ₹3,000)
⇒ Monthly savings = ₹10,000 - ₹9,000
⇒ Monthly savings = ₹1,000
Yearly savings = (₹1,000 × 12) - ₹1,000
⇒ Yearly savings = ₹12,000 - ₹1,000
⇒ Yearly savings = ₹11,000
∴ The correct answer is option (3).
Last updated on Jul 17, 2025
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