Question
The total income of 'P' and 'Q' is Rs. 2,00,000. 'P'
spends 55% of his income, while 'Q' spends 80% of her income, such that the savings of 'Q' are Rs. 12,000 less than that of 'P'. If the income of 'R' is 30% more than the average savings of 'P' and 'Q' together, then find the savings of 'R', given that 'R' saves 30% of her income.Solution
Let the income of 'Q' be Rs. 'q'. Therefore, income of 'P' = Rs. (200000 - q). Savings of 'P' = 0.45 × (200000 - q). Savings of 'Q' = Rs. '0.2q'. According to the question, 0.45 * (200000 - q) = 0.2q + 12000 Or, 90000 – 0.45q = 0.2q + 12000 Or, 0.65q = 90000 - 12000 Or, q = 120000 Savings of 'P' = 0.45 × (200000 - q) = 90000 – 54000 = 36000 Savings of 'Q' = 24000 Therefore, income of 'R' = {36000 + 24000} ÷ 2 * 1.30 = 39000 Savings of 'Z' = 0.30 * 39000 = Rs. 11,700
In the Harrod-Domar growth model, economic growth is determined by:
Assume that there are equal numbers of male and female students in a university. Of all male students, 10 per cent major in economics; and of ...
In the standard IS-LM model, an increase in Government spending (G) without changing taxes has
The correlation coefficient is the________________of two regression coefficients:
...If demand is price inelastic, then
Multicollinearity causes
If Y is preferred over X lexicographically. If income is 100 and price of x=1 and price of y is10, then at optimal bundle the total amount of X is
The Phillips curve shows the trade-off between ----- and -----?
Labour theory of value was propounded by
I. Adam Smith
...What will be the probability of losing a game if the winning probability is 0.3?