The monthly income of a person was ₹ 13,500 and his monthly expenditure was ₹ 9,000. Next year, his…
The savings increase by 28%. Initially the monthly savings are ₹ 13,500 − ₹ 9,000 = ₹ 4,500. The new income and expenditure are ₹ 15,390 and ₹ 9,630, giving savings of ₹…
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The monthly income of a person was ₹ 13,500 and his monthly expenditure was ₹ 9,000. Next year, his income increased by 14% and his expenditure by 7%. Find the percentage increase in his savings.
Answer and explanation
Correct answer A
The savings increase by 28%. Initially the monthly savings are ₹ 13,500 − ₹ 9,000 = ₹ 4,500. The new income and expenditure are ₹ 15,390 and ₹ 9,630, giving savings of ₹ 5,760. The increase is ₹ 1,260, so the percentage increase is (1,260 ÷ 4,500) × 100 = 28%.
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