Ravi's Monthly Savings Allocation

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Ravi invests 50%50\% of his monthly savings in fixed deposits. Thirty percent of the rest of his savings is invested in stocks and the rest goes into Ravi's savings bank account. If the total amount deposited by him in the bank (for savings account and fixed deposits) is Rs 59500, then Ravi's total monthly savings (in Rs) is:

Answer

70000

Explanation

Let total savings = 100x100x. Fixed deposit = 50x50x. Remaining = 50x50x. Stocks = 30%30\% of 50x=15x50x = 15x. Savings account = 50x−15x=35x50x - 15x = 35x. Total bank deposits = Fixed deposit + Savings account = 50x+35x=85x50x + 35x = 85x. Given: 85x=59500  ⟹  x=70085x = 59500 \implies x = 700. Total savings = 100x=70000100x = 70000.

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