Question

A man spends 70 percent of his income. His income increases by 24 percent and his expenditure also increases by 15 percent. Find the percentage increase in his savings. Select one:
a. 35 percent
b. 55 percent
c. 24 percent
d. 45 percent

Answer 1

Answer:

income. 100

Expr. ... 70

savings. 30

income increases by 24%

new income=124

expr.increases by 15 %

new expr-.70 x 115/100=80.5

NewSAVINGS=124-80.50 = 43.50

increase in savings =43.50-30=

13.50

% increase in savings = 13-50x100/30=45% Ans

Answer 2

The correct option would be d. 45 percent

Step-by-step explanation:

Let x be the income of the man,

Spending = 70% of x = $\frac{70x}{100}$ = 0.70x,

So, saving = x - 0.70x = 0.30x,

After increasing income by 24%,

New income = 124% of x = 1.24x,

Also, increasing the expenditure by 15%,

New expenditure = 115% of 0.70x = 1.15(0.70x) = 0.805x,

Thus, new saving = new income - new expenditure

= 1.24x - 0.805x

= 0.435x,

Hence, Change percentage in saving = $\frac{\text{New saving - Original saving}}{\text{Original saving}}\times 100$

$=\frac{0.435x-0.30x}{0.30x}\times 100$

$=\frac{0.135}{0.30}\times 100$

$=\frac{135}{3}$

= 45%

That is, percentage increase in his savings would be 45%.

Therefore, OPTION D is correct.

#Learn more:

Honey spends 25% of his income his income is increased by 40% and he increase his expenditure by 20% find the percent increased in his savings.

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