Question

    In 2021, Rahul uses 78% of his monthly earnings. In 2022,

    his income increased by 28%, and he raised his expenditure by 18%. Calculate the percentage growth in his savings.
    A 48.33% Correct Answer Incorrect Answer
    B 40.65% Correct Answer Incorrect Answer
    C 53.57% Correct Answer Incorrect Answer
    D 63.45% Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    ATQ,

    Let the income of Rahul in 2021 be Rs. 100f

    Expenditure of Rahul in 2021 = 0.78 × 100f = Rs. 78f

    Savings of Rahul in 2021 = 100f - 78f = Rs. 22f

    Income of Rahul in 2022 = 1.28 × 100f = Rs. 128f

    Expenditure of Rahul in 2022 = 1.18 × 78f = Rs. 92.04f

    Savings of Rahul in 2022 = 128f - 92.04f = Rs. 35.96f

    Therefore, percentage increase in savings = [(35.96f - 22f) ÷ 22f] × 100 = 63.45%

    Practice Next
    More Income and Expenditure Questions

    Relevant for Exams:

    ask-question