Question : The expenditure on the cost of living of a man and his family is 60% of his salary. He gets two increments of 30% and 60% of his salary. If his savings increase by 250% of his initial savings, then the new cost of living expenditure is what percentage (rounded off to the one digit after decimal) of the increased salary?
Option 1: 32.7%
Option 2: 43.6%
Option 3: 29.5%
Option 4: 36.6%
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Correct Answer: 32.7%
Solution :
Let the salary of the man be 100a
So, expenditure = 100a $\times$ 60% = 60a
Savings = 100a – 60a = 40a
Now, his new salary = 100a $\times \frac{130}{100} \times \frac{160}{100}$ = 208a
His new savings = 40a + 40a $\times$ 250% = 140a
Expenditure = 208a – 140a = 68a
Required percentage = $\frac{68a}{208a} \times 100$
= 32.69 $\approx$ 32.7%
Hence, the correct answer is 32.7%.
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