SOLUTION: A man spends 75% of his income and saves the rest. But now the cost of living has increased resulting in an increase of 30% in his expenses. However, his income also has increased
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Question 860360: A man spends 75% of his income and saves the rest. But now the cost of living has increased resulting in an increase of 30% in his expenses. However, his income also has increased by 20%. What percentage of his income does ha save now? Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! saving = 25%x
expenditure 75%x
3/4x*1.3 = expense
Income = 1.2x
saving% = (1.2x- (3.9x/4) /1.2x
=0.9x/4 *1.2x
=9/48
=9/48 * 100
=18.75%
Method II
let Income be 100
expenditure = 75
increased by 30 % = 22.5
Total expenditure = 97.5
Income increased by 20 %
= 120
saving = 120-97.50
=22.50
Percentage saving
(22.50/120) * 100=18.75%
