a person saves 10% of his total income.if his income increased by 40% and he decides to save 30% of his income by what percentage has his savings increased
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Answer:
Let his total income be I1=100x .
He spends 60% of his income. So, expenditure E1=60x , [savings S1=40x ]
His income increases by 15%. So, new income, I2=115x
Expenditure increases by 5%. So, 5% increase on 60x results in new expenditure E2=63x
So, new savings S2=115x−63x=52x
So, percentage change in savings can be calculated as:
S2−S1S1×100
=52x−40x40x×10
=30% (Answer)
Step-by-step explanation:
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