Question : Renu saves 20% of her income. If her expenditure increases by 20% and income increases by 29%, then her savings increases by:
Option 1: 55%
Option 2: 65%
Option 3: 54%
Option 4: 60%
Correct Answer: 65%
Solution :
Let the income of Renu be 100 units.
Savings = 20% of 100 = 20 units
Expenditure = 100 – 20 = 80 units
Income increases by 29%.
New Income = 100 + 29 = 129 units
New Expenditure = 80 + (80 × 20%) = 80 + 16 = 96 units
New Saving = 129 – 96 = 33 units
Percentage increase in savings $=\frac{13}{20} ×100 = 65\%$
Hence, the correct answer is 65%.
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