Question : P's income is 150% of Q's income and P's expenditure is 60% of Q's expenditure. If Q saves 20% of his income, then how much percentage does P save of his own income?
Option 1: 68%
Option 2: 60%
Option 3: 72%
Option 4: 75%
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Correct Answer: 68%
Solution :
Given:
P's income is 150% of Q's income = 1.5 × Q's income
P's expenditure is 60% of Q's expenditure = 0.6 × Q's expenditure
Q saves 20% of his income = 0.2 × Q's income
We know, Savings = Income – Expenditure
So, Q's expenditure = 0.8 × Q's income
⇒ P's savings = P's income – P's expenditure
⇒ P's savings = 1.5Q's income – 0.6 $×$ 0.8 $×$ Q's income.
⇒ P's savings = 1.5Q's income – 0.48 Q's income = 1.02 Q's income
$\therefore$ P's savings as a percentage of his income = $\frac{1.02}{1.5} ×$ 100% = 68%
Hence, the correct answer is 68%.
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