Question

Ravi invests 50% of his monthly savings in fixed deposits. Thirty percent of the rest of his savings is invested in stocks and the rest goes into Ravi's savings bank account. If the total amount deposited by him in the bank (for savings account and fixed deposits) is Rs 59500, then Ravi's total monthly savings (in Rs) is

• A. 80000
• B. 70000
• C. 40000
• D. 60000

Answer 1

The Correct Option is B

Let the total monthly savings be S.
FD investment \(=\frac{50}{100}S.\)
Stock investment \(=\frac{30}{100}(S-\frac{50}{100}S)\)
\(=\frac{15}{100}S.\)
Savings bank account investment \(=\frac{35}{100}S.\)
\(⇒\frac{35}{100}S+\frac{50}{100}S=59500\)
\(⇒S= 70000\)