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
If the total amount spent during the year 2019 was ₹ 56,000, the amount spent on other spendings and clothing together was higher than
Correct Answer :
Housing and Child Education
Solution :
The correct option is Housing and Child Education.
Step-by-Step Explanation:
1. Identify the expenditure percentages given in the passage for 2019:
• Food = 23%
• Housing = 15%
• Child’s Education = 12%
• Transport = 10%
• Clothing = 10%
• Saving = 15%
• Other spendings = 20%
2. Calculate the total percentage for "Other spendings" and "Clothing" together:
Percentage for Other spendings + Clothing = 20% + 10% = 30%
3. Calculate the total percentage for each option to compare:
• Housing and Child Education:
• Food and Transport:
• Food and Housing:
• Housing and Saving:
4. Comparison:
The total percentage for Other spendings and Clothing together is 30%. Comparing this with the options:
• 30% is higher than 27% (Housing and Child Education).
Thus, the amount spent on other spendings and clothing together was higher than the amount spent on Housing and Child Education.
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