Madhavi spends 80% of her income.If her income increases by 40%, she wants to increase the savings by 75%.What is the percentage change in her expenditure?
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Required percentage = 31.25 %
Step-by-step explanation:
Step 1.
Let the income is P
Then expenditure = 80P/100
and savings = 20P/100
Step 2.
Current income = P (1 + 40/100)
= 140P/100
and savings = 20P/100 (1 + 75/100)
= 35P/100
∴ expenditure = 140P/100 - 35P/100
= 105P/100
Step 3.
Then change in expenditure is
= 105P/100 - 80P/100
= 25P/100
∴ the percentage of change in expenditure is
= {(25P/100) / (80P/100) * 100} %
= 31.25 %
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