Question

A man spends 2/3rd of his in-
come. If his income 'increases by 14% and the expenditure in-
creases by 20%, then the per-
centage increase in his savings will be ?

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Answer 1

Answer:

Let income be ₹300.

Expenditure = (300×2/3) = 200

If, Income is increased by 14%

Then, New Income

= [300 + (300x14/100)]

= (300 + 42) = ₹342

New Expenditure

= [200+ (200x20/100)]

= (200 +40) = 240

New Savings = (342-240)

= ₹ 102

% of Increase in Savings

= (102-100)/100x 100

= (2/100)/100 × 100

= 2%

Answer 2

Answer:

Let the income of the man be 300.

Expenditure of the man = 300 × (2/3) = 200

Savings of the man = 300 – 200 = 100

New income of the man = 300 × (114/100) = 342

New expenditure of the man = 200 × (120/100) = 240

New saving of the man = 342 – 240 = 102

Required percentage = [(102 – 100)/100] × 100 = 2%

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