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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 Γ— 32000 = Rs. 35520

      New expenses = 1.05 Γ— 25000 = Rs. 26250

      New savings = 35520 – 26250 = Rs. 9270

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

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