Electrical Engineering (EE) Exam > Electrical Engineering (EE) Questions > A man spends 60% of his income. His income is...
Start Learning for Free
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%
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
A man spends 60% of his income. His income is increased by 20% and his...
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%
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%
This question is part of UPSC exam. View all Electrical Engineering (EE) courses
Most Upvoted Answer
A man spends 60% of his income. His income is increased by 20% and his...
Initial Income and Expenditure
Let the man's initial income be 100 units.
- Initial expenditure = 60% of income = 60 units
- Initial savings = Income - Expenditure = 100 - 60 = 40 units
New Income and Expenditure
- New income after a 20% increase = 100 + (20% of 100) = 100 + 20 = 120 units
- New expenditure after a 10% increase = 60 + (10% of 60) = 60 + 6 = 66 units
New Savings Calculation
- New savings = New income - New expenditure = 120 - 66 = 54 units
Change in Savings
- Initial savings = 40 units
- New savings = 54 units
- Change in savings = New savings - Initial savings = 54 - 40 = 14 units
Percentage Decrease in Savings
To find the percentage decrease in savings:
- Initial savings = 40 units
- Decrease in savings = Initial savings - New savings = 40 - 54 = -14 (indicating an increase, not a decrease)
However, if we assume the question meant to ask for the percentage change in savings relative to the original savings:
- Percentage change = (Change in savings / Initial savings) * 100 = (14 / 40) * 100 = 35%
It appears there was a confusion in interpreting the terms. The correct interpretation would result in a percentage increase, not a decrease.
Conclusion
The percentage change is an increase of 35%, which means savings have actually increased rather than decreased. Thus, the correct interpretation of the question seems to be misstated regarding decrease, and the initial information could have been misrepresented. Always ensure to clarify the terms used in financial contexts.
Let the man's initial income be 100 units.
- Initial expenditure = 60% of income = 60 units
- Initial savings = Income - Expenditure = 100 - 60 = 40 units
New Income and Expenditure
- New income after a 20% increase = 100 + (20% of 100) = 100 + 20 = 120 units
- New expenditure after a 10% increase = 60 + (10% of 60) = 60 + 6 = 66 units
New Savings Calculation
- New savings = New income - New expenditure = 120 - 66 = 54 units
Change in Savings
- Initial savings = 40 units
- New savings = 54 units
- Change in savings = New savings - Initial savings = 54 - 40 = 14 units
Percentage Decrease in Savings
To find the percentage decrease in savings:
- Initial savings = 40 units
- Decrease in savings = Initial savings - New savings = 40 - 54 = -14 (indicating an increase, not a decrease)
However, if we assume the question meant to ask for the percentage change in savings relative to the original savings:
- Percentage change = (Change in savings / Initial savings) * 100 = (14 / 40) * 100 = 35%
It appears there was a confusion in interpreting the terms. The correct interpretation would result in a percentage increase, not a decrease.
Conclusion
The percentage change is an increase of 35%, which means savings have actually increased rather than decreased. Thus, the correct interpretation of the question seems to be misstated regarding decrease, and the initial information could have been misrepresented. Always ensure to clarify the terms used in financial contexts.
|
|
Explore Courses for Electrical Engineering (EE) exam
|
|
Similar Electrical Engineering (EE) Doubts
Top Courses for Electrical Engineering (EE)View all
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%Correct answer is option 'A'. Can you explain this answer?
Question Description
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%Correct answer is option 'A'. Can you explain this answer? for Electrical Engineering (EE) 2025 is part of Electrical Engineering (EE) preparation. The Question and answers have been prepared according to the Electrical Engineering (EE) exam syllabus. Information about 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%Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Electrical Engineering (EE) 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 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%Correct answer is option 'A'. Can you explain this answer?.
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%Correct answer is option 'A'. Can you explain this answer? for Electrical Engineering (EE) 2025 is part of Electrical Engineering (EE) preparation. The Question and answers have been prepared according to the Electrical Engineering (EE) exam syllabus. Information about 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%Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Electrical Engineering (EE) 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 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%Correct answer is option 'A'. Can you explain this answer?.
Solutions for 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%Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for Electrical Engineering (EE).
Download more important topics, notes, lectures and mock test series for Electrical Engineering (EE) Exam by signing up for free.
Here you can find the meaning of 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%Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
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%Correct answer is option 'A'. Can you explain this answer?, a detailed solution for 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%Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of 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%Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice 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%Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice Electrical Engineering (EE) tests.
|
|
Explore Courses for Electrical Engineering (EE) exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup