Mrs Lee was given $1200 every month for the household expenses.She used 17/24 of it to buy food for the family, 5/7 of the remainder for clothes and other expenses.She put the remaining money into the bank as savings for the family.Find the amount she put into the bank ?
The remainder of available funds after buying food is 7/24 of $1200 or $350. After spending 5/7 of that ($250) for clothing and other expenses, $100 is left.
This could also be computed from the formula
X = 1200(1 - 17/24)(1 - 5/7)
=1200(7/24)(2/7) = 1200*(1/12)
To find the amount Mrs. Lee put into the bank, we need to follow these steps:
Step 1: Calculate the fraction of money used to buy food
Mrs. Lee used 17/24 of the $1200 for food.
Amount spent on food = (17/24) * $1200
Step 2: Calculate the remainder after buying food
To find the remainder, we subtract the amount spent on food from the total amount.
Remainder = $1200 - (17/24) * $1200
Step 3: Calculate the fraction of the remainder used for clothes and other expenses
Mrs. Lee used 5/7 of the remainder for clothes and other expenses.
Amount spent on clothes and other expenses = (5/7) * Remainder
Step 4: Calculate the amount put into the bank (savings)
To find the amount put into the bank, we subtract the amount spent on clothes and other expenses from the remainder.
Amount put into the bank = Remainder - Amount spent on clothes and other expenses
Now let's calculate each step:
Step 1:
Amount spent on food = (17/24) * $1200
= $850
Step 2:
Remainder = $1200 - $850
= $350
Step 3:
Amount spent on clothes and other expenses = (5/7) * $350
= $250
Step 4:
Amount put into the bank = $350 - $250
= $100
Therefore, Mrs. Lee put $100 into the bank as savings for the family.