Shiya invests ₹1,53,000, which is 30% of her annual income, in mutual funds. What is her monthly income (in ₹)?
Correct Answer :
42,500
Solution :
To find Shiya's monthly income, we can break down the problem into logical mathematical steps:
Step 1: Understand the given information
Shiya's investment in mutual funds = ₹1,53,000
This investment is equal to 30% of her annual income.
Step 2: Calculate the annual income
Let Shiya's annual income be .
According to the problem:
We can write this as a mathematical equation:
To find , we multiply both sides by :
Simplifying the expression:
So, Shiya's annual income is ₹5,10,000.
Step 3: Calculate the monthly income
Since there are 12 months in a year, we divide her annual income by 12 to find her monthly income:
Therefore, Shiya's monthly income is ₹42,500.
The correct option is 42,500.
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