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6. Financial Planning
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Q6 of 16 Page 107

Kailash used to spend 85% of his income. When his income increased by 36% his expenses also increased by 40% of his earlier expenses. How much percentage of his earning he saves now?

Let Kailash’s salary = Rs. 100


Old spend = 100×85% = 85


New salary = 136%of 100 = Rs.136


New expenditure =


= Rs.116


Save = Rs. 136 – Rs. 119


= Rs.17


%S = = 12.5%.


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4

At the start of a year there were Rs. 24,000 in a savings account. After adding Rs. 56,000 to this the entire amount was invested in the bank at 7.5% compound interest. What will be the total amount after 3 years?

5

Mr. Manohar gave 20% part of his income to his elder son and 30% part to his younger son. He gave 10% of the balance as donation to a school. He still had Rs. 1,80,000 for himself. What was Mr. Manohar's income?

7

Total income of Ramesh, Suresh and Preeti is 8,07,000 rupees. The percentages of their expenses are 75%, 80% and 90% respectively. If the ratio of their savings is 16 : 17 : 12, then find the annual saving of each of them.

8

Compute the income tax payable by following individuals.

i. Mr. Kadam who is 35 years old and has a taxable income of Rs. 13,35,000.


ii. Mr. Khan is 65 years of age and his taxable income is Rs. 4,50,000.


iii. Miss Varsha (Age 26 years) has a taxable income of Rs. 2,30,000.

Questions · 16
6. Financial Planning
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