# The ratio of the income to the expenditure of a family is 7:6. Find the savings if the income is Rs. 1400.

Last updated date: 26th Mar 2023

•

Total views: 307.2k

•

Views today: 3.83k

Answer

Verified

307.2k+ views

Hint: Given the ratio of income to the expenditure and the value of income, compute the value of expenditure. The value of savings is the difference between income and the expenditure.

Complete step-by-step answer:

Let the value of income be x and the value of expenditure be y.

The ratio of the income to the expenditure of the family is given as 7:6. Then, we have:

\[\dfrac{x}{y} = \dfrac{7}{6}............(1)\]

Now, it is given that the value of income is Rs.1400.

\[x = 1400...........(2)\]

We can find the value of expenditure by substituting equation (2) in equation (1).

\[\dfrac{{1400}}{y} = \dfrac{7}{6}\]

Solving for y, we get:

\[y = \dfrac{{1400 \times 6}}{7}\]

Simplifying further, we obtain:

\[y = 200 \times 6\]

\[y = 1200...........(3)\]

Hence, the value of expenditure is Rs.1200.

We now have the value of income and the expenditure. Hence, we can calculate the amount of savings of the family.

We know that,

Savings = Amount of Income – Amount of expenditure

Substituting equation (2) and equation (3) in the above equation, we get:

Savings = 1400 – 1200

Savings = 200

Therefore, the savings of the family is Rs.200.

Hence, the correct answer is Rs.200.

Note: You are required to have a basic knowledge that the amount of money remaining in the income after expenditure constitutes the savings. The ratio of income to the expenditure is greater than 1, hence you can cross check the answer since the savings should be positive.

Complete step-by-step answer:

Let the value of income be x and the value of expenditure be y.

The ratio of the income to the expenditure of the family is given as 7:6. Then, we have:

\[\dfrac{x}{y} = \dfrac{7}{6}............(1)\]

Now, it is given that the value of income is Rs.1400.

\[x = 1400...........(2)\]

We can find the value of expenditure by substituting equation (2) in equation (1).

\[\dfrac{{1400}}{y} = \dfrac{7}{6}\]

Solving for y, we get:

\[y = \dfrac{{1400 \times 6}}{7}\]

Simplifying further, we obtain:

\[y = 200 \times 6\]

\[y = 1200...........(3)\]

Hence, the value of expenditure is Rs.1200.

We now have the value of income and the expenditure. Hence, we can calculate the amount of savings of the family.

We know that,

Savings = Amount of Income – Amount of expenditure

Substituting equation (2) and equation (3) in the above equation, we get:

Savings = 1400 – 1200

Savings = 200

Therefore, the savings of the family is Rs.200.

Hence, the correct answer is Rs.200.

Note: You are required to have a basic knowledge that the amount of money remaining in the income after expenditure constitutes the savings. The ratio of income to the expenditure is greater than 1, hence you can cross check the answer since the savings should be positive.

Recently Updated Pages

If a spring has a period T and is cut into the n equal class 11 physics CBSE

A planet moves around the sun in nearly circular orbit class 11 physics CBSE

In any triangle AB2 BC4 CA3 and D is the midpoint of class 11 maths JEE_Main

In a Delta ABC 2asin dfracAB+C2 is equal to IIT Screening class 11 maths JEE_Main

If in aDelta ABCangle A 45circ angle C 60circ then class 11 maths JEE_Main

If in a triangle rmABC side a sqrt 3 + 1rmcm and angle class 11 maths JEE_Main

Trending doubts

Difference Between Plant Cell and Animal Cell

Write an application to the principal requesting five class 10 english CBSE

Ray optics is valid when characteristic dimensions class 12 physics CBSE

Give 10 examples for herbs , shrubs , climbers , creepers

Write a letter to the principal requesting him to grant class 10 english CBSE

List out three methods of soil conservation

Epipetalous and syngenesious stamens occur in aSolanaceae class 11 biology CBSE

Change the following sentences into negative and interrogative class 10 english CBSE

A Short Paragraph on our Country India