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The income of Rahul is Rs 60000 and his expenditure is Rs 40000. If his income is increased by 20% and expenditure is increased by 15%, then what will be the percentage increase in his savings?
- a)30
- b)5
- c)15
- d)25
Correct answer is option 'A'. Can you explain this answer?
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Verified Answer
The income of Rahul is Rs 60000 and his expenditure is Rs 40000. If hi...
Savings = Income – Expenditure
⇒ Savings = 60000 – 40000 = 20000
New income = 120% of 60000 = 72000
New Expenditure = 115% of 40000 = 46000
New savings = 72000 – 46000 = 26000
% increment in savings = (26000 - 20000)/20000 × 100
∴ % increment in savings = 6000/20000 × 100 = 30%
⇒ Savings = 60000 – 40000 = 20000
New income = 120% of 60000 = 72000
New Expenditure = 115% of 40000 = 46000
New savings = 72000 – 46000 = 26000
% increment in savings = (26000 - 20000)/20000 × 100
∴ % increment in savings = 6000/20000 × 100 = 30%
Most Upvoted Answer
The income of Rahul is Rs 60000 and his expenditure is Rs 40000. If hi...
Given:
Income (I) = Rs 60000
Expenditure (E) = Rs 40000
Now, let's calculate the savings (S) using the formula:
S = I - E
Savings (S) = 60000 - 40000 = Rs 20000
Now, let's calculate the increase in income and expenditure:
Increase in income = 20% of 60000 = (20/100) * 60000 = Rs 12000
New Income = 60000 + 12000 = Rs 72000
Increase in expenditure = 15% of 40000 = (15/100) * 40000 = Rs 6000
New Expenditure = 40000 + 6000 = Rs 46000
Now, let's calculate the new savings:
New Savings = New Income - New Expenditure
New Savings = 72000 - 46000 = Rs 26000
Now, let's calculate the percentage increase in savings:
Percentage increase in savings = ((New Savings - Old Savings) / Old Savings) * 100
Percentage increase in savings = ((26000 - 20000) / 20000) * 100
Percentage increase in savings = (6000 / 20000) * 100
Percentage increase in savings = 30%
Therefore, the percentage increase in Rahul's savings is 30%.
Income (I) = Rs 60000
Expenditure (E) = Rs 40000
Now, let's calculate the savings (S) using the formula:
S = I - E
Savings (S) = 60000 - 40000 = Rs 20000
Now, let's calculate the increase in income and expenditure:
Increase in income = 20% of 60000 = (20/100) * 60000 = Rs 12000
New Income = 60000 + 12000 = Rs 72000
Increase in expenditure = 15% of 40000 = (15/100) * 40000 = Rs 6000
New Expenditure = 40000 + 6000 = Rs 46000
Now, let's calculate the new savings:
New Savings = New Income - New Expenditure
New Savings = 72000 - 46000 = Rs 26000
Now, let's calculate the percentage increase in savings:
Percentage increase in savings = ((New Savings - Old Savings) / Old Savings) * 100
Percentage increase in savings = ((26000 - 20000) / 20000) * 100
Percentage increase in savings = (6000 / 20000) * 100
Percentage increase in savings = 30%
Therefore, the percentage increase in Rahul's savings is 30%.
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The income of Rahul is Rs 60000 and his expenditure is Rs 40000. If his income is increased by 20% and expenditure is increased by 15%, then what will be the percentage increase in his savings?a)30b)5c)15d)25Correct answer is option 'A'. Can you explain this answer?
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