Question : A person can save 25% of his income. If his income increases by 20% and still he saves the same amount as before, the percentage increase in his expenditure is _____.
Option 1: $26 \frac{2}{3}$
Option 2: $24$
Option 3: $25 \frac{1}{3}$
Option 4: $25$
Correct Answer: $26 \frac{2}{3}$
Solution :
Let the income of the person be 100
Savings of the person = $100 × \frac{25}{100}$ = 25
Expenditure of the person = 100 – 25 = 75
The new income of the person = $100 × \frac{120}{100}$ = 120
New expenditure of the person = 120 – 25 = 95
Expenditure increased by = $\frac{95 – 75}{75} × 100$ = $26\frac23$%
Hence, the correct answer is $26\frac23$.
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