Question

8. The annual earning of Mr. Sikkawala is Rs. 4 lakhs per
(d) 1,70,000
annum for the first year of his job and his expenditure
was 50%. Later on for the next 3 years his average
income increases by Rs.40,000 per annum and the
saving was 40%, 30% and 20% of the income. What is
the percentage of his total savings over the total
expenditure if there is no interest is applied on the sav-
ings for these four years :​

Answer 1

Answer:

Step-by-step explanation:

The annual earning of Mr. Sikkawala is Rs. 4 lakhs per annum in first year .

His expenditure is 50 %, so the saving is 50 %

For first year = 4 00000 × 50 /100

= 200000

Expenditure = 200000

In second year earning increases by 40000 = 440000

His saving 40 %

=  440000 × 40 /100

= 176000

Expenditure = 440000 - 176000 = 264000

In third year earning increases by 40000 = 440000

His saving 30 %

=  440000 × 30 /100

= 132000

Expenditure = 308000

In fourth year earning increases by 40000 = 440000

His saving 20 %

=  440000 × 20 /100

= 88000

Expenditure = 352000

Total savings =  596000

Total expenditure = 1124000

the percentage of his total savings over the total expenditure =  596000/ 1124000 × 100

= 53 %