📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    Ramesh spends 68% of his monthly income. Next month, his

    income increased by 22% while his expenditure increased by 14%. Due to this, his monthly savings were increased by 'S'%. Find the value of 'S'. (Answer should be rounded off to two decimal points)
    A 42% Correct Answer Incorrect Answer
    B 25% Correct Answer Incorrect Answer
    C 40% Correct Answer Incorrect Answer
    D 39% Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    ATQ, Let the initial monthly income of Ramesh be Rs. '100q'. Monthly expenditure of Ramesh = 68% of 100q = (0.68) × 100q = Rs. '68q' Monthly savings of Ramesh = 100q - 68q = Rs. '32q' New monthly income of Ramesh = 122% of 100q = (1.22) × 100q = Rs. '122q' New monthly expenditure of Ramesh = 114% of 68q = (1.14) × 68q = Rs. '77.52q' New monthly savings of Ramesh = 122q - 77.52q = Rs. '44.48q' Increase in monthly savings = 44.48q - 32q = Rs. '12.48q' Required percentage = (12.48q/32q) × 100 ~ 39%

    Practice Next
    More Income and Expenditure Questions
    ask-question