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If the 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? (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 the ,monthly income of a person is increased by 20% and his e...
Let income and expenditure are 'a' and 'b' respectively.
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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 the ,monthly income of a person is increased by 20% and his e...
Problem:
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.)
Solution:
To solve this problem, we need to calculate the initial savings and the new savings after the increase in income and expenditures. Then, we can find the percentage decrease in savings.
Step 1: Calculate the initial savings:
Let's assume the initial monthly income of the person is 4x (since the ratio of income is 4:3) and the corresponding monthly expenditure is 3x.
Therefore, the initial savings can be calculated as:
Initial Savings = Initial Income - Initial Expenditure
= 4x - 3x
= x
Step 2: Calculate the new income and expenditure:
The monthly income is increased by 20%, so the new income can be calculated as:
New Income = Initial Income + (20% of Initial Income)
= 4x + (0.2 * 4x)
= 4x + 0.8x
= 4.8x
The monthly expenditure is increased by 40%, so the new expenditure can be calculated as:
New Expenditure = Initial Expenditure + (40% of Initial Expenditure)
= 3x + (0.4 * 3x)
= 3x + 1.2x
= 4.2x
Step 3: Calculate the new savings:
The new savings can be calculated as:
New Savings = New Income - New Expenditure
= 4.8x - 4.2x
= 0.6x
Step 4: Calculate the percentage decrease in savings:
The percentage decrease in savings can be calculated as:
Percentage Decrease = (Initial Savings - New Savings) / Initial Savings * 100
= (x - 0.6x) / x * 100
= 0.4x / x * 100
= 0.4 * 100
= 40%
Therefore, the savings are decreased by 40%.
Answer:
Hence, the correct answer is option 'B' - 40%.
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.)
Solution:
To solve this problem, we need to calculate the initial savings and the new savings after the increase in income and expenditures. Then, we can find the percentage decrease in savings.
Step 1: Calculate the initial savings:
Let's assume the initial monthly income of the person is 4x (since the ratio of income is 4:3) and the corresponding monthly expenditure is 3x.
Therefore, the initial savings can be calculated as:
Initial Savings = Initial Income - Initial Expenditure
= 4x - 3x
= x
Step 2: Calculate the new income and expenditure:
The monthly income is increased by 20%, so the new income can be calculated as:
New Income = Initial Income + (20% of Initial Income)
= 4x + (0.2 * 4x)
= 4x + 0.8x
= 4.8x
The monthly expenditure is increased by 40%, so the new expenditure can be calculated as:
New Expenditure = Initial Expenditure + (40% of Initial Expenditure)
= 3x + (0.4 * 3x)
= 3x + 1.2x
= 4.2x
Step 3: Calculate the new savings:
The new savings can be calculated as:
New Savings = New Income - New Expenditure
= 4.8x - 4.2x
= 0.6x
Step 4: Calculate the percentage decrease in savings:
The percentage decrease in savings can be calculated as:
Percentage Decrease = (Initial Savings - New Savings) / Initial Savings * 100
= (x - 0.6x) / x * 100
= 0.4x / x * 100
= 0.4 * 100
= 40%
Therefore, the savings are decreased by 40%.
Answer:
Hence, the correct answer is option 'B' - 40%.
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If the 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? (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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