Rohit's income is Rs. 32000. If his expenses is 30 percent of total income, then what will be the saving of Rohit ?
Rs. 22400
Understanding Income, Expenses, and Savings
This problem asks us to calculate the savings of Rohit, given his total income and the percentage of his income that he spends. Savings is the amount of money left after expenses are deducted from income. The relationship can be expressed as:
Savings = Income - Expenses
We are given Rohit's total income and his expenses as a percentage of his income. To find his savings, we first need to calculate the exact amount of his expenses in Rupees.
Calculating Rohit's Expenses
Rohit's total income is Rs. 32000. His expenses are stated to be 30 percent of his total income. To find the amount of expenses, we calculate 30% of 32000.
The formula to calculate a percentage of a number is:
Percentage Amount = (\(\frac{\text{Percentage}}{100}\)) \(\times\) Total Amount
In this case:
Expenses = (\(\frac{30}{100}\)) \(\times\) 32000
Let's perform the calculation:
Expenses = 0.30 \(\times\) 32000
Expenses = 9600
So, Rohit's total expenses are Rs. 9600.
Determining Rohit's Savings
Now that we know Rohit's income and his expenses, we can calculate his savings using the formula:
Savings = Income - Expenses
We have:
- Income = Rs. 32000
- Expenses = Rs. 9600
Substitute these values into the formula:
Savings = 32000 - 9600
Savings = 22400
Therefore, Rohit's savings are Rs. 22400.
Summary of Rohit's Financials
Here is a quick summary:
- Total Income: Rs. 32000
- Expenses (30% of Income): Rs. 9600
- Savings (Income - Expenses): Rs. 22400
Revision Table: Income and Savings
| Item | Amount (Rs.) |
|---|---|
| Total Income | 32000 |
| Expenses (30%) | 9600 |
| Savings | 22400 |
Additional Information on Percentage Calculations
Calculating percentages is a fundamental skill in many areas, including personal finance. A percentage is a fraction of 100. For example, 30% means \(\frac{30}{100}\). To find a percentage of a quantity, you convert the percentage to a decimal or fraction and multiply by the quantity.
Examples:
- 10% of 500 = \(\frac{10}{100} \times 500 = 0.10 \times 500 = 50\)
- 25% of 80 = \(\frac{25}{100} \times 80 = 0.25 \times 80 = 20\)
Understanding how to calculate percentages of income for expenses and savings helps in managing personal budgets effectively.
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