Question
A person’s salary rose by 50%. In reaction, he decided to
raise his spending by 30%. If he used to save 20% of his income earlier, what is the percentage growth in his savings now?Solution
ATQ,
Let the original salary be Rs. 100x
Earlier savings = 100x × 0.20 = Rs. 20x
Earlier expenditure = 100x − 20x = Rs. 80x
New expenditure = 80x × 1.30 = Rs. 104x
New salary = 100x × 1.50 = Rs. 150x
New savings = 150x − 104x = Rs. 46x
Required percentage increase in savings = (46x−20x)/20x × 100 = 130%
How much financial support has Odisha Chief Minister Naveen Patnaik announced for the state's athletes participating in the Hangzhou Asian Games?
Which digital platform will be used for applying for loans and interest subvention under the PM-Vidyalaxmi scheme?
DGCA has recognized the first Flying Training Organization of which state?
The Reserve Bank of India (RBI) has revised investment norms for commercial banks, making it more rigid as it created a new category namely – fair val...
Slice, a financial technology company will merge with which small finance bank after getting approval from the Reserve Bank of India (RBI) in order to h...
During which event was the Union Education Minister's emphasis on cultural integration between Tamil Nadu and Kashi reiterated?
Which of the following international organization has launched the Giving to Amplify Earth Action (GAEA) to help unlock the USD 3 trillion of financing ...
Indian overnight index swap (OIS) rates showed a 10 month high due to offshore paying and triggering of stop losses, thus the swap rate hitting_______, ...
Bank can accept as proof of customer identification to ?
India Meteorological Department (IMD) is going to tie up with ________ to develop climate solutions for the stakeholder at village, city and district le...
Relevant for Exams:
