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Question 5 : Ravi invests 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: [TITA]

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Video Explanation

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Explanatory Answer

Method of solving this CAT Question from Percentages

Ravi invests 50% of his monthly savings in fixed deposits i.e from the remaining 50%, 30% percent of the rest of his savings = 15% is invested in stocks.
And the rest i.e 50 – 15 = 35% 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
i.e. 50 + 35 = 85 % ⟹ 85% of total savings = 59500
We have to find the Ravi's total monthly savings (in Rs)
⟹ Total savings = \\frac{59500}{85}) × 100 = Rs.70000
Ravi's total monthly savings is 70000 Rupees.

The question is "Ravi invests 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: [TITA]"

Hence, the answer is 70000