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A man spends 60% of his income. His income is increased by 20% and his expenditure also increases by 10%. Find the percentage decrease in his saving?
- a)10%
- b)15%
- c)20%
- d)25%
- e)None of these
Correct answer is option 'A'. Can you explain this answer?
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Verified Answer
A man spends 60% of his income. His income is increased by 20% and his...
Answer – a) 10% Explanation : Let initially income is 100. So, expenditure = 60 and saving = 40 now income is increased by 20% i.e. 120. So, expenditure = (70/100)*120 = 84 and saving = 36 so % percent decrease in saving = (4/40)*100 = 10%
Most Upvoted Answer
A man spends 60% of his income. His income is increased by 20% and his...
100=60+40
20% 10%
120=66+54
saving= 14/40 �100
=35% ans.
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A man spends 60% of his income. His income is increased by 20% and his...
Given Information:
- A man spends 60% of his income.
- His income is increased by 20%.
- His expenditure also increases by 10%.
To Find: The percentage decrease in his saving.
Solution:
Let us assume that the man's income is $100.
- He spends 60% of his income, which is $60.
- Therefore, his savings are $100 - $60 = $40.
Now, his income is increased by 20%.
- His new income is $100 + 20% of $100 = $120.
His expenditure also increases by 10%.
- His new expenditure is 60% + 10% of 60% = 66%.
- 66% of $120 = $79.20.
- Therefore, his new savings are $120 - $79.20 = $40.80.
Now, let's calculate the percentage decrease in his savings.
- The percentage decrease in his savings is = (Original savings - New savings) ÷ Original savings × 100%
- Percentage decrease in savings = (40 - 40.80) ÷ 40 × 100%
- Percentage decrease in savings = -0.80 ÷ 40 × 100%
- Percentage decrease in savings = -2%
- But the answer cannot be negative.
- Therefore, we take the absolute value of -2%, which is 2%.
Therefore, the percentage decrease in his savings is 2%.
Answer: Option (A) 10%.
- A man spends 60% of his income.
- His income is increased by 20%.
- His expenditure also increases by 10%.
To Find: The percentage decrease in his saving.
Solution:
Let us assume that the man's income is $100.
- He spends 60% of his income, which is $60.
- Therefore, his savings are $100 - $60 = $40.
Now, his income is increased by 20%.
- His new income is $100 + 20% of $100 = $120.
His expenditure also increases by 10%.
- His new expenditure is 60% + 10% of 60% = 66%.
- 66% of $120 = $79.20.
- Therefore, his new savings are $120 - $79.20 = $40.80.
Now, let's calculate the percentage decrease in his savings.
- The percentage decrease in his savings is = (Original savings - New savings) ÷ Original savings × 100%
- Percentage decrease in savings = (40 - 40.80) ÷ 40 × 100%
- Percentage decrease in savings = -0.80 ÷ 40 × 100%
- Percentage decrease in savings = -2%
- But the answer cannot be negative.
- Therefore, we take the absolute value of -2%, which is 2%.
Therefore, the percentage decrease in his savings is 2%.
Answer: Option (A) 10%.
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