Banking Exam Question - Math Percentage Problem - Rita's per month income is Rs. 12600 If she spends 65% of the monthly income, how much would she have annual savings?

Introduction - Percentage Math Problem 

In math, you need to use actual numbers. Always convert the percentages to decimals!) Then, since "sixteen percent OF fourteen hundred" tells you to multiply the 0.16 and the 1400, you get: (0.16)(1400) = 224. This says that 224 is sixteen percent of 1400.

We're trying to find the missing PERCENT (out of the whole 100%). In a proportion the cross-products are equal: So 3 times 100 is equal to 4 times the PERCENT. The missing PERCENT equals 100 times 3 divided by 4. (Multiply the two opposite corners with numbers; then divide by the other number.)

Solving in English Medium:

Rita's per month income is Rs. 12600 If she spends 65% of the monthly income, how much would she have annual savings?

Here,

Monthly income = Rs. 12600

Monthly expenditure percentage = 65%

Monthly income percentage = 100-65% = 35%

Monthly Savings = Rs. (Rs 12600 * 35%) = Rs. (12600 * 35/100) = Rs. 4410

Rita's annual savings = Rs. 4410 * 12 = Rs. 52920

Answer: Therefore, the annual savings of Rita = Rs. 52920