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Select the correct answerA person spends 16.66% of his income on house rent. 17%of the remaining on the clothes, 23% on foods and 10%of the remaining on education He deposited remaining amount in bank find the ratio of total income and total expenditure?Options20:1111:0911:2009:11

Question

Select the correct answerA person spends 16.66% of his income on house rent. 17%of the remaining on the clothes, 23% on foods and 10%of the remaining on education He deposited remaining amount in bank find the ratio of total income and total expenditure?Options20:1111:0911:2009:11

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Solution

Let's assume the total income of the person is 100 units.

  1. He spends 16.66% of his income on house rent. So, the expenditure on rent = 16.66 units. The remaining income = 100 - 16.66 = 83.34 units.

  2. He spends 17% of the remaining income on clothes. So, the expenditure on clothes = 17/100 * 83.34 = 14.17 units. The remaining income = 83.34 - 14.17 = 69.17 units.

  3. He spends 23% of the remaining income on food. So, the expenditure on food = 23/100 * 69.17 = 15.91 units. The remaining income = 69.17 - 15.91 = 53.26 units.

  4. He spends 10% of the remaining income on education. So, the expenditure on education = 10/100 * 53.26 = 5.33 units. The remaining income = 53.26 - 5.33 = 47.93 units.

  5. He deposits the remaining income in the bank. So, the amount deposited in the bank = 47.93 units.

The total expenditure = Expenditure on rent + Expenditure on clothes + Expenditure on food + Expenditure on education = 16.66 + 14.17 + 15.91 + 5.33 = 52.07 units.

So, the ratio of total income to total expenditure = 100 : 52.07.

To simplify this ratio, we can divide both sides by the common factor. The common factor here is approximately 4.47. So, the simplified ratio = 100/4.47 : 52.07/4.47 = 22.37 : 11.64.

However, this ratio is not present in the options. There might be a mistake in the question or the options provided.

This problem has been solved

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