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A man spends 60% of his income. His income is increased by 20% and his expenditure also increases by 10%. Find the percentage decrease/increase in his savings?
  • a)
    35% increase
  • b)
    15% increase
  • c)
    20% decrease
  • d)
    10% decrease
Correct answer is option 'A'. Can you explain this answer?
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A man spends 60% of his income. His income is increased by 20% and his...
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A man spends 60% of his income. His income is increased by 20% and his...
Initial Setup
- Let the man's original income be 100 units.
- Therefore, his original expenditure is 60% of his income, which is 60 units.
- His initial savings would be: 100 - 60 = 40 units.
Income Increase
- The man's income increases by 20%.
- New income = 100 + (20% of 100) = 100 + 20 = 120 units.
Expenditure Increase
- His expenditure increases by 10% of the original expenditure.
- New expenditure = 60 + (10% of 60) = 60 + 6 = 66 units.
New Savings Calculation
- The new savings would be: New Income - New Expenditure = 120 - 66 = 54 units.
Change in Savings
- The original savings were 40 units, and the new savings are 54 units.
- The change in savings = New Savings - Original Savings = 54 - 40 = 14 units.
Percentage Increase in Savings
- To find the percentage increase in savings:
- Percentage Increase = (Change in Savings / Original Savings) * 100
- Percentage Increase = (14 / 40) * 100 = 35%.
Conclusion
- The percentage increase in his savings is 35%.
- Thus, the correct answer is option 'A': 35% increase.
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A man spends 60% of his income. His income is increased by 20% and his expenditure also increases by 10%. Find the percentage decrease/increase in his savings?a)35% increaseb)15% increasec)20% decreased)10% decreaseCorrect answer is option 'A'. Can you explain this answer?
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