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
Comments and other answers:
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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