Question 2263
Quantitative Techniques
2021
Medium
MCQ
+1.00 marks · -0.25 negative
COVID-19 pandemic turned life upside-down for many families across the World. Mr. Abhishek was working as a sale executive in a famous Marketing Company. Due to COVID-19 pandemic lockdown and restrictions, Mr. Abhishek was not able to achieve his monthly targets which resulted in the reduction of his salary. So far, he spent his income lavishly without any planning and prior calculations. However, the prevailing situation compelled him to plan his expenditure to adjust his life to the present income. Therefore, he analysed his spending's of last year i.e., 2019, so that he can plan his present year 2020 spending's. Through his brief analysis, he found that in the year 2019 he spent 23 per cent of his income on food, 15 per cent on Housing, and 12 per cent on his child's education. For his transport, he spent 10 percent, and for clothing of his family he spent 10 per cent. In the meanwhile, Mr. Abhishek also saved 15 per cent of his income in the year 2019, and the remaining 20 per cent of expenditure he kept as other spending's. Answer the following questions to provide deeper insight to Mr. Abhishek.
If the total expenditure of the family for the year 2019 was ₹56,000, what was the amount saved by the family during the year?
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