📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    The monthly income of a person was ₹27,000 and his

    monthly expenditure was ₹18,000. In the next year, his income increased by 28% and his expenditure increased by 14%. Find the percentage increase in his savings.
    A 51.5% Correct Answer Incorrect Answer
    B 61.5% Correct Answer Incorrect Answer
    C 56% Correct Answer Incorrect Answer
    D 50.5% Correct Answer Incorrect Answer

    Solution

    Savings = Income - Expenditure Initial savings = 27,000 - 18,000 = 9,000 New income = 27,000 + 28% of 27,000 = 27,000 × 1.28 = 34,560 New expenditure = 18,000 + 14% of ₹18,000 = 18,000 × 1.14 = 20,520 New savings = 34,560 -20,520 = 14,040 Increase in savings = New savings - Initial savings = 14,040 - 9,000 =5,040 Percentage increase = (Increase in savings / Initial savings) x 100 = (5,040 / 9,000) x 100 = 56%

    Practice Next
    More Previous year papers Questions

    Relevant for Exams:

    ask-question