Discussion

Question:

Manu earns ₹4000 per month and wants to save an average of ₹550 per month in a year. In the first nine months, his monthly expense was ₹3500, and he foresees that, tenth month onward, his monthly expense will increase to ₹3700. In order to meet his yearly savings target, his monthly earnings, in rupees, from the tenth month onward should be:

Explanation:

Monthly savings of Manu = Rs. 550
⇒ Yearly savings of Manu = 12 × 550 = Rs. 6,600

Total expense of Manu for the first 9 months = 9 × 3500 = Rs. 31,500
Total expense of Manu for the last 3 months = 3 × 3700 = 11,100
⇒ Yearly expense of Manu = 11,100 + 31,500 = Rs. 42,600

Monthly income of Manu = Rs. 4,000
⇒ Income of Manu for first 9 months = 9 × 4000 = Rs. 36,000

⇒ Manu’s income for last 3 months = 42,600 + 6,600 – 36,000 = Rs. 13,200
⇒ Monthly income of Manu for last 3 months = $\frac{13200}{3}$ = Rs. 4,400

Hence, option (a).

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