Ramkumar spends 70% of his income. His income is increased by 15% and he increased his expenditure by 10%. Find the percentage increase in his savings.
Answers
Answer:
26.6%
Step-by-step explanation:
Considering his income 100.
Expenditure = 70 ,Savings =30
New Income= 115 (15%of 100+100)
Expenditure Increased by 10% means , 10% of 70 +70 = 77
New Savings = 115–77 = 38
New Increase in Savings = 38-30=8
Increase in %= (8/30) *100 = 26.6%
The savings of Ramkumar increased by 26.67%
Step-by-step explanation:
Given:
Ramkumar spends 70% of his income, his income is increased by 15% and so is his expenditure by 10%
To find:
percentage increase in his savings
Solution:
Let Ramkumar's initial income be 100y
∴ Ramkumar's initial expenditure = 70% of 100y
∴ Ramkumar's initial expenditure = 70y
Now, Ramkumar's initial savings = Ramkumar's initial income-
Ramkumar's initial expenditure
Ramkumar's initial savings = 100y-70y
Ramkumar's initial savings = 30y
Later, his income increased by 15%
∴ Ramkumar's new income = 100 + 15% of 100y
∴ Ramkumar's new income = 100+15y
∴ Ramkumar's new income = 115y
Ramkumar's new expenditure is increased by 10%
∴ Ramkumar's new expenditure = 10% of 70y + 70y
∴ Ramkumar's new expenditure = 77y
Thus, Ramkumar's new savings = 115y - 77y
Ramkumar's new savings = 38y
Percentage increase in savings = new savings - old savings X 100
old savings
Percentage increase in savings = 38y-30y X 100
30y
Percentage increase in savings = 8 X 100
30
Percentage increase in savings = 26.67%
Thus, the increase in his savings was 26.67%
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