Question

    Ravi spends 65% of his monthly income. Next month, his

    income increased by 18% while his expenditure increased by 10%. Due to this, his monthly savings were increased by 'Q'%. Find the value of 'Q'. (Answer should be rounded off to two decimal points)
    A 42.86% Correct Answer Incorrect Answer
    B 25.86% Correct Answer Incorrect Answer
    C 32.86% Correct Answer Incorrect Answer
    D 19.16% Correct Answer Incorrect Answer

    Solution

    ATQ, Let the initial monthly income of Ravi be Rs. '100n'. Monthly expenditure of Ravi = 65% of 100n = (0.65) × 100n = Rs. '65n' Monthly savings of Ravi = 100n - 65n = Rs. '35n' New monthly income of Ravi = 118% of 100n = (1.18) × 100n = Rs. '118n' New monthly expenditure of Ravi = 110% of 65n = (1.10) × 65n = Rs. '71.5n' New monthly savings of Ravi = 118n - 71.5n = Rs. '46.5n' Increase in monthly savings = 46.5n - 35n = Rs. '11.5n' Required percentage = (11.5n/35n) × 100 ~ 32.86%

    Practice Next
    More Income and Expenditure Questions

    Relevant for Exams:

    ask-question