The table shows the monthly expenditure of Saumya. What percent of her monthly salary is she able to save?Expense Amount Food 5,000 Rent 20,000 Travel 10,000 Clothing 3,000 Miscellaneous 15,000 Savings 7,500
12.4
Understanding Saumya's Monthly Expenditure and Savings
The question provides a table detailing Saumya's monthly expenses and her savings. We need to determine what percentage of her total monthly salary she is able to save. To do this, we first need to calculate her total monthly income, which is the sum of all her expenses and her savings.
| Expense/Savings | Amount (₹) |
|---|---|
| Food | 5,000 |
| Rent | 20,000 |
| Travel | 10,000 |
| Clothing | 3,000 |
| Miscellaneous | 15,000 |
| Savings | 7,500 |
Calculating Total Monthly Expenditure
Let's sum up all of Saumya's expenses:
Total Expenditure = Food + Rent + Travel + Clothing + Miscellaneous
Using the amounts from the table:
Total Expenditure = 5,000 + 20,000 + 10,000 + 3,000 + 15,000
Total Expenditure = 53,000
So, Saumya's total monthly expenditure is ₹53,000.
Determining Total Monthly Salary
Saumya's total monthly salary is the sum of her total expenditure and her monthly savings.
Total Salary = Total Expenditure + Savings
Using the calculated total expenditure and the savings amount from the table:
Total Salary = 53,000 + 7,500
Total Salary = 60,500
Saumya's total monthly salary is ₹60,500.
Calculating the Percentage of Monthly Savings
Now, we can calculate the percentage of her total monthly salary that Saumya saves. The formula for percentage is:
$$ \text{Percentage} = \left( \frac{\text{Part}}{\text{Whole}} \right) \times 100 $$
In this case, the 'Part' is the Savings and the 'Whole' is the Total Salary.
Percentage of Savings = $$ \left( \frac{\text{Savings}}{\text{Total Salary}} \right) \times 100 $$
Plugging in the values:
Percentage of Savings = $$ \left( \frac{7,500}{60,500} \right) \times 100 $$
Percentage of Savings = $$ \left( \frac{75}{605} \right) \times 100 $$
Percentage of Savings = $$ \left( \frac{15}{121} \right) \times 100 $$
Percentage of Savings = $$ \frac{1500}{121} $$
Performing the division:
$$ \frac{1500}{121} \approx 12.396... $$
Rounding to one decimal place, the percentage of monthly savings is approximately 12.4%.
Therefore, Saumya is able to save approximately 12.4% of her monthly salary.
Revision Table: Key Financial Terms
Review these important terms related to personal finance calculations:
| Term | Definition | Example (from this problem) |
|---|---|---|
| Expenditure | Money spent on goods and services. | Food, Rent, Travel, Clothing, Miscellaneous (₹53,000) |
| Savings | Portion of income not spent. | ₹7,500 |
| Salary/Income | Total money earned or received. | Total Expenditure + Savings (₹60,500) |
| Percentage | A value expressed as a fraction of 100. | (Savings / Total Salary) * 100 (12.4%) |
Additional Information on Savings Percentage Calculation
Calculating the savings percentage is a fundamental step in understanding personal financial health. A higher savings percentage often indicates better financial discipline and capacity for future investments or handling emergencies.
- The percentage tells you what portion of your income is being set aside for future goals rather than being consumed immediately.
- Different financial goals (like buying a house, retirement, education) require different savings rates. Financial advisors often recommend saving a significant portion, like 15% or 20%, of your income.
- Tracking your monthly expenditure and savings regularly helps in budgeting and identifying areas where expenses can be reduced to increase the savings percentage.
- Understanding this calculation helps in setting realistic financial goals and creating a budget to achieve them.
Important Questions from Data Interpretation
Who had the best score on either test?
Who had the most consistent scores on both tests?
Who had the least consistent scores on both tests?
Who had the poorest score on either test?
Who had the best mean score on both tests?
