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The monthly income of a person in the year 2020 was ₹ 65,000 and his monthly expenditure was ₹ 45,000.…

Savings in 2020 were \(65000-45000 = 20000\). In 2021 income is \(65000\times 1.15 = 74750\) and expenditure is \(45000\times 1.07 = 48150\), so savings are \(26600\). The…

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The monthly income of a person in the year 2020 was ₹ 65,000 and his monthly expenditure was ₹ 45,000. In the year 2021 his monthly income increased by 15% and his monthly expenditure by 7%. What is the percentage increase in his savings ?

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Correct answer A

Savings in 2020 were 65000−45000=2000065000-45000 = 20000. In 2021 income is 65000×1.15=7475065000\times 1.15 = 74750 and expenditure is 45000×1.07=4815045000\times 1.07 = 48150, so savings are 2660026600. The rise is 660020000×100=33%\frac{6600}{20000}\times 100 = 33\%.

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