A man spends 70% of his income. His income increases by 24% and his expenditure also increases by 15%. Find the percentage increase in his savings.
(a) 35%
(b) 24%
(c) 45%
(d) 55%
(e) None of these
Help me pls@EklavyaKamal
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A man spends 70% of his income. His income increases by 24% and his expenditure also increases by 15%. Find the percentage increase in his savings.
(a) 35%
(b) 24%
(c) 45%
(d) 55%
(e) None of these
Help me pls@EklavyaKamal
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Answer:
The percentage increase in savings of the man is 45%
Step-by-step explanation:
The correct option is c. 45%
Let the income of the man be Rs 100
He used to spend= 70 % of his income = Rs 70
And he used to save = Rs 100 – Rs 70 = Rs 30 = 30% of his income.
Now, his income increased by 24%.
∴ New Income = Rs 100 + 24/100 ×Rs 100 = Rs 100 + Rs 24 = Rs 124.
His expenditure increases by 15%
∴ New Expenditure = Rs 70 + 15/100 ×Rs 70 = Rs 70 + Rs 10.50 = Rs 80.50
∴ His New Savings = Rs 124 – Rs 80.50 = Rs 43.50
∴ Increase in Savings = Rs 43.50 – Rs 30 = Rs 13.50
∴ % Increase in Savings