Question

If Jai and Veer spend 40 percent and 55 percent in year 2017 then what is the total saving of Jai and Veer together in 2017?

• A. 43000
• B. 45500
• C. 47000
• D. 49500

Hint:

To perform this calculation quickly:
- Jai: \(45 \times 0.6 = 27\)
- Veer: \(50 \times 0.45 = 5\)
Sum $= 27 + 5 = 49.5\text{ thousand} = 49500$.

Answer 1

The Correct Option is D

Step 1: Understanding the Concept:
Savings is defined as the portion of income that is not spent.
If an individual spends a certain percentage of their income, their savings percentage is the complement of that percentage.
Key Formula or Approach:
The formulas are:
\[ \text{Savings \%} = 100\% - \text{Expenditure \%} \]
\[ \text{Savings Amount} = \text{Income} \times \text{Savings \%} \]

Step 2: Detailed Explanation:
Let us perform the calculations for each individual for the year 2017:
1. For Jai (Jay) in 2017:
- Income = 45 thousand = \(\text{Rs. } 45000\)
- Expenditure = \(40\%\)
- Savings percentage = \(100\% - 40\% = 60\%\)
\[ \text{Jai's Savings} = 45000 \times \frac{60}{100} = \text{Rs. } 27000 \]
2. For Veer in 2017:
- Income = 50 thousand = \(\text{Rs. } 50000\)
- Expenditure = \(55\%\)
- Savings percentage = \(100\% - 55\% = 45\%\)
\[ \text{Veer's Savings} = 50000 \times \frac{45}{100} = \text{Rs. } 22500 \]
3. Calculate the combined savings:
\[ \text{Total Combined Savings} = 27000 + 22500 = \text{Rs. } 49500 \]
This matches Option D.

Step 3: Final Answer:
The total combined savings of Jai and Veer in 2017 is Rs. 49500.