Question

Milind spends 45% of his income on food, 15% on children’s sports training, and 70% of the remaining on loan installments. What percent of income is he left with?
1. 25%
2. 5%
3. 12%
4. 10%

Answer 1

Correct Answer - Option 3 : 12%

Given:

Income spent on food = 45%

Income spent on children’s sports training = 15%

Income spent on loan installments = 70% of the remaining income

Calculations:

Let the total income be 100x

Income spent on food = 100x × 45/100 = 45x

Income spent on children’s sports training = 100x × 15/100 = 15x

Total spent on food and children’s sports training = 45x + 15x = 60x

Remaining income = 100x – 60x = 40x

According to the question

Money spent on loan installments = 40x × 70/100 = 28x

Remaining income after all the spendings = 40x – 28x = 12x

Required% = (12x/100x) × 100 = 12%

∴ Percent of income he left with is 12%