Question : Raj's income is Rs. 45,000 and his expenditure is Rs. 33,000. If his income is increased by 20% and expenditure by 12%, then what will be the percentage increase in savings?
Option 1: 48%
Option 2: 56%
Option 3: 36%
Option 4: 42%
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Correct Answer: 42%
Solution :
Given: Income = Rs. 45000
Expenditure = Rs. 33000
So, savings = (45000 – 33000) = Rs. 12000
After a 20% increase in income, the net income
= $(45000+45000×\frac{20}{100})$
= $54000$
After a 12% increase in expenditure, the new expenditure
= $(33000+33000×\frac{12}{100})$
= $36960$
Now, the savings = (54000 – 36960) = Rs. 17040
So, increase percentage in savings = $(\frac{17040-12000}{12000})×100=42$%
Hence, the correct answer is 42%.
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