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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_
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