QOTD - Quantitative Aptitude - Percentages

2019-09-16 | Team PendulumEdu

If the income of a person is increased by 20% and his expenditure is increased by 15%, then what will be the percentage change in his savings if he was saving 40% of his earlier income?

Options:

A. 23.5%

B. 27.5%

C. 15%

D. 30.5%

Solution:

Income = expenditure + savings

Let the earlier income be x

According to the question, a person was saving 40 % of his earlier income

So, earlier he was having an expenditure of 0.6x and saving of 0.4x

Thus,

Old expenditure = 0.6x

Old Saving = 0.4x

Now,

The income of the person is increased by 20%

So, new income = x + 20% of x = 1.2 x …. (1)

 From equation (1) and (2)

New saving = New income – New expenditure

= 1.2 x – 0.69 x

= 0.51 x

So,

= 27.5%

Hence, (B) is the correct answer.

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