Question : A spends 68% of his monthly income. If A's monthly income increases by 25% and his monthly savings increase by 15%, then the percentage increase in his monthly expenditure will be:
Option 1: $27 \frac{13}{17}$%
Option 2: $29 \frac{12}{17} $%
Option 3: $33 \frac{7}{17}$%
Option 4: $31 \frac{6}{17} $%
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Correct Answer: $29 \frac{12}{17} $%
Solution :
Let Rs. 100 be the initial monthly income.
Initial expenditure = 68% of initial monthly income = Rs. 68
Initial savings = Rs. 100 – Rs. 68 = Rs. 32
Increase in income = 25%
Final monthly income = Rs. 100 + Rs. 25 = Rs. 125
Increase in savings = 15%
$\therefore$ Final savings = Rs. 32 + $\frac{15}{100}$ × 32 = 32 + 4.8 = Rs. 36.8
Final expenditure = Rs. 125 – Rs. 36.8 = Rs. 88.2
Increase in expenditure = Rs. 88.2 – Rs. 68 = Rs. 20.2
$\therefore$ Percentage increase $=\frac{20.2}{68}×100=29 \frac{12}{17} $%
Hence, the correct answer is $29 \frac{12}{17} $%.
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