65 Views

Question : The monthly income of a person was INR 12,000 and his monthly expenditure was INR 8,000. Next year, his income increased by 10% and his expenditure by 8%. Find the percentage increase in his savings.

Option 1: 10%

Option 2: 14%

Option 3: 12%

Option 4: 15%


Team Careers360 10th Jan, 2024
Answer (1)
Team Careers360 13th Jan, 2024

Correct Answer: 14%


Solution : Given: Monthly Income = INR 12000
Monthly Expenditure = INR 8000
Increase in income = 10%
Increase in expenditure = 8%
Solution: Savings before increase = 12000 – 8000 = INR 4000
Increase in income = 12000 + $\frac{10}{100}$ × 12000 = INR 13200
Increase in expenditure = 8000 + $\frac{8}{100}$ × 8000 = INR 8640
Increase in savings = 13200 – 8640 = INR 4560
Difference in savings = INR 4560 – INR 4000 = INR 560
$\therefore$ Savings in percentage increase = $\frac{560}{4000}$ × 100 = 14%
Hence, the correct answer is 14%.

SSC CGL Complete Guide

Candidates can download this ebook to know all about SSC CGL.

Download EBook

Know More About

Related Questions

TOEFL ® Registrations 2024
Apply
Accepted by more than 11,000 universities in over 150 countries worldwide
Manipal Online M.Com Admissions
Apply
Apply for Online M.Com from Manipal University
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books