A person earns ₹16,000 per month and spends 80% of his income and saves the remaining amount. If his income increases by 20% and expenditure by 10%, find the percentage of increase in his savings.
Question:
A person earns ₹16,000 per month and spends 80% of his income and saves the remaining amount. If his income increases by 20% and expenditure by 10%, find the percentage of increase in his savings.
A person earns ₹16,000 per month and spends 80% of his income and saves the remaining amount. If his income increases by 20% and expenditure by 10%, find the percentage of increase in his savings.
Options
Answer: (4) 60%
Explanation:
Income = 16,000 Expenditure = 80% of 16,000 = 12,800 Savings = 16,000 − 12,800 = 3,200 New income = 16,000 × 1.20 = 19,200 New expenditure = 12,800 × 1.10 = 14,080 New savings = 19,200 − 14,080 = 5,120 Increase in savings = 5,120 − 3,200 = 1,920 Percentage increase = (1,920 / 3,200) × 100 = 60% Final Answer: 60%
Explanation:
Income = 16,000 Expenditure = 80% of 16,000 = 12,800 Savings = 16,000 − 12,800 = 3,200 New income = 16,000 × 1.20 = 19,200 New expenditure = 12,800 × 1.10 = 14,080 New savings = 19,200 − 14,080 = 5,120 Increase in savings = 5,120 − 3,200 = 1,920 Percentage increase = (1,920 / 3,200) × 100 = 60% Final Answer: 60%
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