Question

A person saves 6% of his income. Two years later, his income shoots up by 15% but his savings remains the same. Find the hike in his expenditure

Answer 1

Let the income be 100 rs

So saving is 6 rs

Now let the income be 115 rs

Still saving is 6 rs

So expenditure is 109 rs but earlier it was 94 rs

So increse percentage is 15*100/94