COVID-19 pandemic turned life upside-down for many families across the world. Mr. Abhishek was working as a sale executive in a famous Marketing Company. Due to COVID 19 pandemic lockdown and restrictions, Mr. Abhishek was not able to achieve his monthly targets which resulted in the reduction of his salary. So far, he spent his income lavishly without any planning and prior calculations. However, the prevailing situation compelled him to plan his expenditure to adjust his life to the present income. Therefore, he analysed his spendings of last year i.e., 2019, so that he can plan his present year 2020 spendings. Through his brief analysis, he found that in the year 2019, he spent 23 per cent of his income on food, 15 per cent on Housing, and 12 per cent on his child’s education. For his transport, he spent 10 per cent, and for clothing of his family he spent 10 per cent. In the meanwhile, Mr. Abishek also saved 15 per cent of his income in the year 2019, and the remaining 20 per cent of expenditure he kept as other spendings. Answer the following questions to provide deeper insight to Mr. Abhishek
What was the ratio of the total amount of money spent on housing to that spent on education?
Correct Answer :
5:4
Solution :
The correct option is 5:4.
Step-by-step Explanation:
Step 1: Identify the given percentages from the analysis of 2019 spendings:
• Percentage of income spent on Housing = 15%
• Percentage of income spent on Child's Education = 12%
Step 2: Calculate the ratio:
We are asked to find the ratio of the total amount spent on housing to that spent on education.
Ratio = (Percentage spent on Housing) : (Percentage spent on Education)
Step 3: Simplify the fraction:
Divide both the numerator and denominator by their greatest common divisor, which is 3:
Thus, the required ratio is 5:4.
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