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A man spends 65% of his income. His income was increased by 30% and his expenditure also increased by 20%. What is the % increase/decrease in his savings?
- A48.6% increase
- B20% increase
- C33.33% decrease
- D12.5% decrease
Answer not set
Discussion 1
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CCommunity
Let the income of the man be Rs. 100.
So, he spends Rs. 65 and saves Rs.35.
His income increased by 30%. Thus, his new income = 100 + (30/100) × 100 = Rs. 130
His increased expenditure = 65 + (20/100) × 65 = Rs. 78
New savings = 130 - 78 =Rs.52
% increase in the savings = [(new savings - old savings)/old savings] × 100 = [(52 - 35)/35] × 100 ≈ 48.6%
Hence, the savings increased by 48.6%.
So, he spends Rs. 65 and saves Rs.35.
His income increased by 30%. Thus, his new income = 100 + (30/100) × 100 = Rs. 130
His increased expenditure = 65 + (20/100) × 65 = Rs. 78
New savings = 130 - 78 =Rs.52
% increase in the savings = [(new savings - old savings)/old savings] × 100 = [(52 - 35)/35] × 100 ≈ 48.6%
Hence, the savings increased by 48.6%.