A Man Saves 30% of his Income in 1 year.If he want to save the same Amount in 8 Months, then by How Much percentage should he Increase his monthly savings?"
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Answer:
He should increase 50% of his monthly savings.
Step-by-step explanation:
Step 1:
Let monthly income of man = Rs. 100
Step 2:
=> Monthly savings = 30 / 100 X 100 = Rs.30
Yearly income = 30 X 12 = Rs.360
Step 3:
Now, income in 8 months = Rs. 800
Step 4:
Saving the same amount, his monthly savings = 360 /800 X 100 = Rs. 45
Therefore Increase in monthly savings = 45 – 30 /30 X 100
= 15 /3 X 10
= 50 %
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