Acooldude63: A man spends 75% of his income, when his income is increased by 20%, he increases his expenditure by 10%. By how much per cent are his savings increased

Question asked by: libran

Asked on: 13 Dec 2008

He now saves 15% of his income.
By: knowitall
Replied at: 21 Dec 2008
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Savings increase by 50%
By: Ghandi

Date of comment: Thu, Jun 3rd 2010

I think his saving is decreased
By: chirag247

Date of comment: Tue, Oct 6th 2009

Let the initial income be X, initial expenditure=75/100X=0.75X initial savings=X-(0.75X)=0.25X When income increase by 20%, new income=120/100X=1.2X new expenditure=85/100*1.2X=1.02X new savings=1.2X-1.02X=0.18X by comparing, the income doesnt increase but decrease!! ratio=0.18X/0.25X=0.72 percentage decrease=(1-0.72)*100%=28%
By: rongshiu

Date of comment: Wed, Sep 30th 2009

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Question Keywords

income increased expenditure savings cent increases spends

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