A man deposit 10% of his salary in PF. He saves 30% of the remaining. The ratio of his expense on medicine and groceries is 3 :4 of the remaining salary after saving. If his expense on the medicine was Rs 2700. Find the monthly salary.
This questions was previously asked in
IBPS PO Prelims 2020
Rs 15,000
Incorrect AnswerRs 30,000
Incorrect AnswerRs 20,000
Incorrect AnswerNone of these
Incorrect AnswerExplanation:
- Let's assume the man's monthly salary is Rs \( S \).
- He deposits 10% of his salary in PF, so he has \( S - 0.1S = 0.9S \) left.
- He saves 30% of the remaining amount:
\[ \text{Saved Amount} = 0.3 \times 0.9S = 0.27S \]
- Remaining salary after saving is:
\[ 0.9S - 0.27S = 0.63S \]
- Given that the ratio of expenses on medicine to groceries is 3:4, and the expense amount on medicine is Rs 2700, we can find \( \frac{3}{7} \) \ of the remaining salary is Rs 2700:
\[ \frac{3}{7} \times 0.63S = 2700 \]
- Solving for S:
\[ 0.27S = 2700 \]
\[ S = \frac{2700}{0.27} = 10000 \]
- Rs 10,000
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