Question
Download Solution PDFShiya invests ₹1,53,000, which is 30% of her annual income, in mutual funds. What is her monthly income (in ₹)?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Investment in mutual funds = ₹1,53,000
Investment percentage of annual income = 30%
Formula Used:
Annual income = Investment / Investment percentage
Monthly income = Annual income / 12
Calculation:
Investment percentage = 30% = 30/100 = 0.30
Annual income = ₹1,53,000 / 0.30
⇒ Annual income = ₹1,53,000 / 0.30
⇒ Annual income = ₹5,10,000
Monthly income = ₹5,10,000 / 12
⇒ Monthly income = ₹5,10,000 / 12
⇒ Monthly income = ₹42,500
The monthly income is ₹42,500.
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