Question : A man spends $\frac{2}{3} $rd of his income. If his income increases by 14% and the expenditure increases by 20%, then the percentage increase in his savings will be?
Option 1: 6%
Option 2: 2%
Option 3: 4%
Option 4: 1%
Correct Answer: 2%
Solution :
Let the income of the man be Rs. 300.
Expenditure of the man = 300 × ($\frac{2}{3}$) = Rs. 200
Savings of the man = 300 – 200 = Rs. 100
New income of the man = 300 × ($\frac{114}{100}$) = Rs. 342
New expenditure of the man = 200 × ($\frac{120}{100}$) = Rs. 240
New savings of the man = 342 – 240 = Rs. 102
Required percentage = $\frac{(102 - 100)}{100} × 100 = 2\%$
Hence, the correct answer is 2%.
Related Questions
Know More about
Staff Selection Commission Sub Inspector ...
Result | Eligibility | Application | Selection Process | Cutoff | Admit Card | Preparation Tips
Get Updates Brochure
Your Staff Selection Commission Sub Inspector Exam brochure has been successfully mailed to your registered email id “”.
