Question : The monthly income of Ramesh was Rs.16,500 and his monthly expenditure was Rs.10,500. Next year his income increased by 25% and his expenditure increased by 19%. Find the percentage increase in his savings.
Option 1: 33.5%
Option 2: 34.5%
Option 3: 32.5%
Option 4: 35.5%
Correct Answer: 35.5%
Solution : The monthly income of Ramesh was Rs.16,500 and his monthly expenditure was Rs. 10,500. Savings in that month = 16500 – 10500 = 6000 Next year his income increased by 25% and his expenditure increased by 19%. Monthly income becomes = $16500×\frac{125}{100}=20625$ His expenditure becomes = $10500×\frac{119}{100}=12495$ Savings becomes = 20625 – 12495 = 8130 $\therefore$ His savings increased percentage = $\frac{8130-6000}{6000}×100=\frac{2130}{6000}×100=35.5$% Hence, the correct answer is 35.5%.
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