The monthly income of a person was ` 13500 and his monthly expenditure was ` 9000. Next year, his income increased by 14% and his expenditure by 7%. Find the percentage increase in his savings. (S.S.C., 2006) 114
Answer
Answer (as printed):
Explanation
Increased income $=114\%$ of ₹$13500=₹\left(\frac{114}{100}\times 13500\right)=₹15390$. Increased expenditure $=107\%$ of ₹$9000=₹\left(\frac{107}{100}\times 9000\right)=₹9630$. Increased saving $=₹(15390-9630)=₹5760$. Original savings $=₹(13500-9000)=₹4500$. Increase $=₹(5760-4500)=₹1260$. Increase \% in savings $=\left(\frac{1260}{4500}\times 100\right)\%=28\%$.
Explanation as extracted from the printed page; notation may be imperfect.