Question
The ratio of income and expenditure of a man is 9 : 7, respectively. If the income and expenditure of the man are increased by 20% and 10% respectively, then find the percentage increase in savings.
Solution
Let the income of the man be Rs. ‘9x’ So, expenditure = Rs. ‘7x’ So, savings = 9x – 7x = Rs. ‘2x’ New income = 9x × 1.2 = Rs. ‘10.8x’ New expenditure = 7x × 1.1 = Rs. ‘7.7x’ New savings = 10.8x – 7.7x = Rs. ‘3.1x’ So, required percentage increase
= {(3.1x – 2x) / 2x} × 100
= 55%
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