Question

Raj saves 20 percent off his income when his income increases by 20 percent he increased his expenditure by 30 percent what is change in savings percentage​

Answer 1

Answer:

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Answer 2

The change in the savings rate is 70% when Raj saves 20% of his salary, but when his income rose by 20%, he raised his spending by 30%.

Given that,

Raj saves 20% of his salary, but when his income rose by 20%, he raised his spending by 30%.

We have to find what is the change in the savings rate .

We know that,

Let us take the total income as x

Total saving is 20% of x = 0.2x

Total expenditure is income - saving = x- 0.2x = 0.8x

For 30%

Percentage increases = (100% +  increases) ÷ 100 ×initial value

= $\frac{(100\% + 30\%) }{100}$×x

=1.3x

Now, for 20%

Percentage increases = (100% +  increases) ÷ 100 ×initial value

= $\frac{(100\% + 20\%) }{100}$×x

=0.96x

Saving is 1.3x-0.96x = 0.34x

Saving change is 0.34x-0.2x = 0.14x

Percentage change is $\frac{0.14x}{0.20x}$× 100% =70%

Therefore, The change in the savings rate is 70% when Raj saves 20% of his salary, but when his income rose by 20%, he raised his spending by 30%.

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