The monthly incomes of two friends Amit and Gopal, are in the ratio 5 : 7 respectively and each of them saves ₹72000 every month. If the ratio of their monthly expenditure is 2 : 3, find the monthly income of Amit(in ₹).

Given:

The monthly incomes of two friends Amit and Gopal, are in the ratio 5:7 respectively and each of them saves ₹72000 every month.

The ratio of their monthly expenditure is 2:3.

Formula used:

Income = Expenditure + Savings

Calculation:

Let the monthly incomes of Amit and Gopal be 5x and 7x respectively.

Let the monthly expenditures of Amit and Gopal be 2y and 3y respectively.

According to the given information:

5x - 2y = 72000   ...........(1)

7x - 3y = 72000   ...........(2)

Multiply the first equation by 3 and the second equation by 2:

⇒ 15x - 6y = 216000

⇒ 14x - 6y = 144000

Subtract the second equation from the first:

(15x - 6y) - (14x - 6y) = 216000 - 144000

⇒ x = 72000

Therefore, Amit's monthly income = 5x

⇒ 5 × 72000 = 360000

∴ The correct answer is option 1.