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If the monthly income of a person is increased by 20% and his expenditures are increased by 40%, then his savings are decreased by what percent? (The ratio of income and expenditure is 4: 3 respectively.)
- a)45%
- b)40%
- c)35%
- d)30%
Correct answer is option 'B'. Can you explain this answer?
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Verified Answer
If the monthly income of a person is increased by 20% and his expendi...
Let income and expenditure are 'a' and 'b' respectively.
View all questions of this test
Savings = a - b = a - 3a/4 = a/4
When income and expenditure are increased by 20%. Then,
New income = 120% of a = 1.2a
New expenditure = 140% of b = 1.4 x 3a/4 = 2.1a/2
New savings = 1.2a - 2.1a/2 = 3a/20
Decrement in savings = (a/4) - (3a/20) = a/10
Percentage = a/10)/(a/4 x 100 = 40%
Most Upvoted Answer
If the monthly income of a person is increased by 20% and his expendi...
To solve this problem, we need to understand the relationship between income, expenditure, and savings.
Given information:
- The ratio of income to expenditure is 4:3.
- The monthly income is increased by 20%.
- The expenditures are increased by 40%.
Let's assume the original monthly income is 4x and the original expenditure is 3x.
1. Calculate the increased income:
The increased income is 4x + (20/100) * 4x = 4x + (4/5)x = (24/5)x.
2. Calculate the increased expenditure:
The increased expenditure is 3x + (40/100) * 3x = 3x + (12/10)x = (33/10)x.
3. Calculate savings:
Savings = Original income - Original expenditure = 4x - 3x = x.
4. Calculate new savings:
New savings = Increased income - Increased expenditure = (24/5)x - (33/10)x = (48/10)x - (33/10)x = (15/10)x.
5. Calculate the percentage decrease in savings:
Percentage decrease in savings = (Original savings - New savings) / Original savings * 100
= (x - (15/10)x) / x * 100
= (10x - 15x) / 10x * 100
= -5x / 10x * 100
= -50%
Since the percentage decrease is negative, we take the absolute value to get the decrease in savings.
Absolute value of -50% = 50%
Therefore, the savings are decreased by 50%.
Hence, the correct answer is option B) 40%.
Given information:
- The ratio of income to expenditure is 4:3.
- The monthly income is increased by 20%.
- The expenditures are increased by 40%.
Let's assume the original monthly income is 4x and the original expenditure is 3x.
1. Calculate the increased income:
The increased income is 4x + (20/100) * 4x = 4x + (4/5)x = (24/5)x.
2. Calculate the increased expenditure:
The increased expenditure is 3x + (40/100) * 3x = 3x + (12/10)x = (33/10)x.
3. Calculate savings:
Savings = Original income - Original expenditure = 4x - 3x = x.
4. Calculate new savings:
New savings = Increased income - Increased expenditure = (24/5)x - (33/10)x = (48/10)x - (33/10)x = (15/10)x.
5. Calculate the percentage decrease in savings:
Percentage decrease in savings = (Original savings - New savings) / Original savings * 100
= (x - (15/10)x) / x * 100
= (10x - 15x) / 10x * 100
= -5x / 10x * 100
= -50%
Since the percentage decrease is negative, we take the absolute value to get the decrease in savings.
Absolute value of -50% = 50%
Therefore, the savings are decreased by 50%.
Hence, the correct answer is option B) 40%.
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If the monthly income of a person is increased by 20% and his expenditures are increased by 40%, then his savings are decreased by what percent? (The ratio of income and expenditure is 4: 3 respectively.)a)45%b)40%c)35%d)30%Correct answer is option 'B'. Can you explain this answer?
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If the monthly income of a person is increased by 20% and his expenditures are increased by 40%, then his savings are decreased by what percent? (The ratio of income and expenditure is 4: 3 respectively.)a)45%b)40%c)35%d)30%Correct answer is option 'B'. Can you explain this answer? for Railways 2024 is part of Railways preparation. The Question and answers have been prepared according to the Railways exam syllabus. Information about If the monthly income of a person is increased by 20% and his expenditures are increased by 40%, then his savings are decreased by what percent? (The ratio of income and expenditure is 4: 3 respectively.)a)45%b)40%c)35%d)30%Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Railways 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for If the monthly income of a person is increased by 20% and his expenditures are increased by 40%, then his savings are decreased by what percent? (The ratio of income and expenditure is 4: 3 respectively.)a)45%b)40%c)35%d)30%Correct answer is option 'B'. Can you explain this answer?.
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