Mr. Balu spends \[\frac{5}{12}\]. of his monthly income on housing, \[\frac{1}{4}\]. on food, \[\frac{1}{12}\] on clothes and \[\frac{1}{20}\] on transport. If he has Rs.240 remaining, what is Mr. Balu's monthly income?

• A. Rs. 1000
• B. Rs. 1200
• C. Rs. 1500
• D. Rs.1800