Mohan's income is rupees 15500 per month. He saves 11% of his income. If his income increases by 10%, then he reduces his savings by 1%, how much does he save now?? PLEASE ANSWER WITH PROPER STEPS !!!
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Mohan's income is rupees 15500 per month. He saves 11% of his income. If his income increases by 10%, then he reduces his savings by 1%, how much does he save now?? PLEASE ANSWER WITH PROPER STEPS !!!
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Given
Mohans income = Rs 15500
saving = 11% of income
His income increased by 10%
and savings reduces by 1%
To find
New savings
Solution
His savings ob Rs 15500 = 15500 × 11/100
= 155 × 11
= 1705
so his savings on Rs 15500 are Rs 1705
Increased income = 15500 + 15500 × 10/100
= 15500 + 1550
= 17050
so his income is Rs 17050
savings on Rs 17050 are 9%
savings on Rs 17050 = 17050 × 9/100
= 170.5 × 9
= 1634.5
so new savings are Rs 1634.5