Question : The monthly salary of a person was INR 50,000. He used to spend on Family expenses (E), Taxes (T), and Charity (C), and the rest were his savings. E was 60% of the income. T was 20% of E, and C was 15% of T. When his salary was raised by 40%, he maintained the percentage level of E, but T became 30% of E and C became 20% of T. The difference between the two savings (in INR) is:
Option 1: 128
Option 2: 220
Option 3: 130
Option 4: 250
Correct Answer: 220
Solution : Monthly salary = INR 50,000 E = 60% of income T = 20% of E C = 15% of T After the salary was raised by 40%, E = 60% of income T = 30% of E C = 20% of T Let the initial salary be $1000x$. E = 60% of $1000x$ = $600x$ T = 20% of $600x$ = $120x$ C = 15% of $120x$ = $18x$ Total expense $=600x + 120x + 18x = 738x$ Initial savings $=1000x - 738x = 262x$ After the salary was raised by 40%, New salary = $1000x + 1000x$ × 40% = $1400x$ New E = 60% of $1400x$ = $840x$ New T = 30% of $840x$ = $252x$ New C = 20% of $252x$ = $50.4x$ New Total expense $=840x + 252x + 50.4x = 1142.4x$ New savings $=1400x - 1142.4x = 257.6x$ Difference in savings $=262x - 257.6x = 4.4x$ As $1000x$ = INR 50,000 So, $x$ = 50 Difference in savings = $4.4x$ = 4.4 × 50 = INR 220 $\therefore$ The difference between the two savings is INR 220. Hence, the correct answer is 220.
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