Question : The ratio between monthly income and expenditure of Vaidic is 8 : 5. If his income increases by 20% and his expenditure increases by 30%, then find the percentage increase or decrease in his monthly savings.
Option 1: $5 \frac{2}{3}$% increase
Option 2: $5 \frac{2}{3}$% decrease
Option 3: $3 \frac{1}{3}$% increase
Option 4: $3 \frac{1}{3}$% decrease
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Correct Answer: $3 \frac{1}{3}$% increase
Solution : Let the income of Vaidic be 800 and expenditure be 500 Saving = income – expenditure = 800 – 500 = 300 When income is increased by 20% = 800 × $\frac{120}{100}$ = 960 When expenditure is increased by 30% = 500 × $\frac{130}{100}$ = 650 New saving = new income – new expenditure = 960 – 650 = 310 Change in saving = 310 – 300 = 10 Increase in percent = $\frac{10}{300}$×100 = $\frac{10}{3}$ = $3\frac{1}{3}$% increase Hence, the correct answer is $3\frac{1}{3}$% increase.
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