Mohit's salary is Rs. 15,000 per month. He spends Rs. 5,000 on house rent, Rs. 2,000 on bills and the rest of the amount is his monthly savings. Find his savings in a year, if in the month of his birthday he spent his complete monthly saving for birthday celebration.

Explanation

Solution: 1. Calculate Mohit's monthly expenses: House rent: Rs. 5,000 Bills: Rs. 2,000 Total expenses = 5,000 + 2,000 = Rs. 7,000 2. Calculate Mohit's monthly savings: Monthly savings = Salary - Total expenses Monthly savings = 15,000 - 7,000 = Rs. 8,000 3. Calculate his annual savings excluding his birthday month: Annual savings without birthday month = 8,000 × 11 = Rs. 88,000 4. Since he spends his entire savings in the month of his birthday, his total savings for the year are: Total savings in a year = Rs. 88,000 Answer: Mohit's savings in a year are Rs. 88,000.