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6. Financial Planning
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Q5 of 16 Page 98

Sameera spent 90% of her income and donated 3% for socially useful causes. If she left with Rs. 1750 at the end of the month, what was her actual income?

Given,

Let Sameera’s income be Rs x.


Then, amount she spends = 90% of x


Donations by Sameera = 3% of x


Remaining amount = 100 – (90 + 3)% of x


And, the remaining amount = Rs. 1750


Here, 7% of x = Rs 1750


⇒


⇒


⇒ x = Rs 25,000


∴ her monthly income is Rs. 25,000.


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3

Nikhil spent 5% of his monthly income on his children's education, invested 14% in shares, deposited 3% in a bank and used 40% for his daily expenses. He was left with a balance of Rs. 19,000. What was his income that month?

4

Mr. Sayyad kept Rs. 40,000 in a bank at 8% compound interest for 2 years. Mr. Fernandes invested Rs. 1,20,000 in a mutual fund for 2 years. After 2 years, Mr. Fernandes got Rs. 1,92,000. Whose investment turned out to be more profitable?

1

Observe the table given below. Check and decide, whether the individuals have to pay income tax.

2

Mr. Kartarsingh (age 48 years) works in a private company. His monthly income after deduction of allowances is Rs. 42,000 and every month he contributes Rs. 3000 to GPF. He has also bought Rs. 15,000 worth of NSC (National Savings Certificate) and donated Rs. 12,000 to the PM's Relief Fund. Compute his income tax.

Questions · 16
6. Financial Planning
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