Question
Download Solution PDFThe monthly incomes of two friends Chetan and Vipul, are in the ratio 5 : 7 respectively and each of them saves ₹72000 every month. If the ratio of their monthly expenditure is 1 : 3, find the monthly income of Chetan(in ₹).
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Ratio of monthly incomes of Chetan and Vipul = 5 : 7
Each saves ₹72000 every month.
Ratio of their monthly expenditure = 1 : 3
Formula Used:
Income - Savings = Expenditure
Calculation:
Let the monthly income of Chetan be 5x and the monthly income of Vipul be 7x.
Each saves ₹72000, so:
Chetan's expenditure = 5x - 72000
Vipul's expenditure = 7x - 72000
The ratio of their monthly expenditure is 1 : 3, so:
⇒
⇒ 3 × (5x - 72000) = 1 × (7x - 72000)
⇒ 15x - 216000 = 7x - 72000
⇒ 15x - 7x = 216000 - 72000
⇒ 8x = 144000
⇒
⇒ x = 18000
Chetan's monthly income = 5x = 5 × 18000 = ₹90000
∴ The monthly income of Chetan is ₹90000.
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