Home › LIC AAO › Quantitative Aptitude › Percentages › A man spends 75% of his income. If his income in…
A man spends 75% of his income. If his income increases by 20% and expenditure by 10%, by what percent do his savings increase?
A50%
B55%
C60%
D65%
Answer & Solution
Correct answer: A. 50%
1. Income = 100, expense = 75, saving = 25.
2. New income = 120, new expense = 75 × 1.10 = 82.5, saving = 37.5.
3. Saving % increase = (37.5 − 25) / 25 × 100 = 50%.
_Source: jkchrome Percentage QB, p.5 — income-expenditure savings_
Related questions
A city of 20,000 people growing at 5% a year from 1997 reaches, by the end of 2000, about:On 12000 at 10% per annum compounded half yearly, the interest for the first six months isIf interest is compounded quarterly, the quarterly rate is:For half yearly compounding, the rate used in each period is:When interest is compounded half yearly, the number of conversion periods in a year is:The time period after which interest forms a new principal is called the:Compound interest on 12600 for two years at 10% per annum works out to:Once the amount is known, compound interest is found as: