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    Question

    Ravi had a monthly income of Rs. 32000 and his monthly

    expenses were Rs. 25000. In the next year, his income increased by 11% and his expenses rose by 5%. Find the percentage increase in his monthly savings.
    A 25.55% Correct Answer Incorrect Answer
    B 17.33% Correct Answer Incorrect Answer
    C 62.45% Correct Answer Incorrect Answer
    D 32.43% Correct Answer Incorrect Answer

    Solution

    ATQ,

    Initial savings = 32000 – 25000 = Rs. 7000

    New income = 1.11 × 32000 = Rs. 35520

    New expenses = 1.05 × 25000 = Rs. 26250

    New savings = 35520 – 26250 = Rs. 9270

    Percentage increase = [(9270 – 7000)/7000] × 100 = 32.43%

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