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A person saves 20 percent of his income. If the income of that person increased by 16 percent and he decided to save 25 percent, then find the percent increase in his saving as compared to previous one.
- a)40%
- b)45%
- c)50%
- d)55%
- e)None of these
Correct answer is option 'B'. Can you explain this answer?
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Verified Answer
A person saves 20 percent of his income. If the income of that person ...
Let initial income = 100 so his saving is rupees = 20.
Now his income is 116 and he save = 116*25/100 = 29
So % increase in saving = (9/20)*100 = 45
Now his income is 116 and he save = 116*25/100 = 29
So % increase in saving = (9/20)*100 = 45
Most Upvoted Answer
A person saves 20 percent of his income. If the income of that person ...
Given: A person saves 20% of his income.
Let's assume his income to be 100.
So, he saves 20% of 100, which is equal to 20.
Now, his income increases by 16%.
New income = 100 + (16% of 100) = 116
He decides to save 25% of his new income.
New savings = 25% of 116 = 29
Percent increase in his savings = ((new savings - old savings)/old savings) x 100%
= ((29 - 20)/20) x 100%
= 45%
Therefore, the percent increase in his savings as compared to the previous one is 45%.
Let's assume his income to be 100.
So, he saves 20% of 100, which is equal to 20.
Now, his income increases by 16%.
New income = 100 + (16% of 100) = 116
He decides to save 25% of his new income.
New savings = 25% of 116 = 29
Percent increase in his savings = ((new savings - old savings)/old savings) x 100%
= ((29 - 20)/20) x 100%
= 45%
Therefore, the percent increase in his savings as compared to the previous one is 45%.
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Community Answer
A person saves 20 percent of his income. If the income of that person ...
Let initial income = 100 so his saving is rupees = 20.
Now his income is 116 and he save = 116*25/100 = 29
So % increase in saving = (9/20)*100 = 45
Now his income is 116 and he save = 116*25/100 = 29
So % increase in saving = (9/20)*100 = 45
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