GMAT
Exam
Numerical Ability
Percentage
A man spends 75% of his income, when his income is increased by 20%, he increases his expenditure by 10%. By how much per cent are his savings increased
Read Solution (Total 6)
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- Let income = 100, exp = 75, sav = 25
Now, New income = 100 + 20%(100) = 120
New Exp. = 75 + 10%(75) = 82.5
New Sav. = 120 - 82.5 = 37.5
% increase in savings = (12.5/50)x100 = 50% - 10 years agoHelpfull: Yes(12) No(3)
- 50%
- 15 years agoHelpfull: Yes(8) No(4)
- INCOME1=100 ,EXPENDITURE1 =75 SAVING1=25
INCOME2=120,EXPENDITURE2=82.5,SAVING2=37.5
DIFFERENCE IN SAVING=37.5-25=12.5(+VE)
% INCREASE IN SAVING=50% - 9 years agoHelpfull: Yes(4) No(0)
- Let income = 100, expenditure = 75
as income=savings + expenditure
also, savings=income - expenditure
therefore, initial savings = 100 - 75 = 25
Now, New income = 100 + 20%(100) = 120
New Exp. = 75 + 10%(75) = 82.5
New Sav. = 120 - 82.5 = 37.5
Increase in savings = new savings - initial savings = 37.5 - 25 = 12.5
% increase in savings = (12.5/25)x100 = (25/50)x100 = 50%
ps: I just took note from other's answers and expanded it for clear calculations. hope this helps. and thanks others who answered as I was finding ans for this qn as well. - 6 years agoHelpfull: Yes(3) No(0)
- get decreased by 28%
- 15 years agoHelpfull: Yes(0) No(7)
- i din understand the last step sir
- 7 years agoHelpfull: Yes(0) No(1)
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