Change in income:

To calculate the change in income, we need to determine the proportion of the fresh investment that goes towards saving and consumption.

Given that 15% of the increased income is saved, we can calculate the portion of the fresh investment that goes towards saving and consumption as follows:

Saving = 15% of ₹600 crore = ₹90 crore
Consumption = Fresh investment - Saving = ₹600 crore - ₹90 crore = ₹510 crore

Therefore, the change in income is equal to the consumption, which is ₹510 crore.

Change in consumption:

The change in consumption can be calculated by subtracting the initial consumption from the final consumption.

Given that the initial consumption is ₹510 crore, we need to determine the final consumption after the fresh investment.

Let's assume the initial income before the fresh investment is ₹X crore. Since 15% of the increased income is saved, the savings can be expressed as:

Saving = 15% of X = 0.15X crore

The final income after the fresh investment can be calculated as:

Final income = Initial income + Fresh investment = X + ₹600 crore

The final consumption can be calculated as:

Final consumption = Final income - Saving = (X + ₹600 crore) - 0.15X crore

To find the change in consumption, we subtract the initial consumption from the final consumption:

Change in consumption = Final consumption - Initial consumption
= (X + ₹600 crore) - 0.15X crore - ₹510 crore

Simplifying the equation, we get:

Change in consumption = 0.85X crore + ₹600 crore - ₹510 crore - 0.15X crore
= 0.7X crore + ₹90 crore

Therefore, the change in consumption is equal to 0.7X crore + ₹90 crore.

Explanation:

In this scenario, a fresh investment of ₹600 crore is made, which increases the total income in the economy. The question states that 15% of the increased income is saved, indicating that a portion of the fresh investment goes towards saving. The remaining portion is consumed.

To determine the change in income, we calculate the consumption, which is equal to the fresh investment minus the savings. In this case, the consumption is ₹510 crore.

To calculate the change in consumption, we need to determine the initial consumption and the final consumption after the fresh investment. We assume an initial income before the investment and calculate the savings based on this income. The final income is the initial income plus the fresh investment, and the final consumption is the final income minus the savings. By subtracting the initial consumption from the final consumption, we find the change in consumption.

Therefore, the change in consumption is equal to 0.7 times the initial income plus ₹90 crore.