Question
Download Solution PDFRaj’s income is Rs. 45,000 and his expenditure is Rs. 33,000. If his income is increased by 20% and expenditure by 12%, then what will be the percentage increase in saving?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Income of Raj = Rs.45000
Expenditure = Rs.33000
Formula used:
Saving = (income - expenditure)
Calculation:
Saving = (income - expenditure)
⇒ (45000 - 33000) = Rs.12000
Increment of 20% in income = 45000 × 120% = Rs.54000
Increment of 12% in expenditure = 33000 × 112% = Rs.36960
New saving = (income - expenditure)
⇒ (54000 - 36960) = Rs.17040
Increment in saving = (17040 - 12000) = Rs.5040
% increment = (5040 × 100)/12000 = 42%
∴ The correct answer is 42%.
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