Q:
Mohan spends 23% of an amount of money on an insurance policy, 33% on food, 19% on children’s education and 16% on recreation. He deposits the remaining amount of Rs. 504 in bank. How much amount does he spend on food and insurance policy together?
Answer & Explanation
Answer: D) Rs. 3136
Explanation: Let total amount = Rs. P
Total expenditure = (23 + 33 + 19 + 16)% of P = 91%ofP
Remaining money = (100 - 91)% of P = 9% of P
But given in the question that,
9% of P = 504
9p/100 = 504
=> P = 50400/9
=> P = Rs. 5600
Required money spent on Food & Insurance = 23 + 33 %
= 56% of 5600
= 56 x 5600/100 = 56 x 56 = Rs. 3136
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