Pradip spends 40 per cent of his monthly income on food items and 50 per cent of the remaining on cl...........

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Pradip spends 40 per cent of his monthly income on food items, and 50 per cent of the remaining on clothes and conveyance. He saves one-third of the remaining amount after spending on food, clothes and conveyance. If he saves ? 19,200 every year, what is his monthly income ?

24000

12000

16000

20000

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Explanation:

Let income be 100.
∴ Income after spending 40% on food items = 100 – 40 = 60
∴ Income after spending 50% of the remaining = 50% of 60 = 30
Savings = 1 /3 x 30 = 10
Now, 10 : 100 : : 19200 : x
∴ yearly income = 100 x 19200 /10 = 192000
∴ Monthly income = 192000 /12 = 16000