Question : A saves 18% of his income. If his income increases by 41% and still saves the same amount. Find the percentage increase in his expenditure.
Option 1: 60%
Option 2: 35%
Option 3: 50%
Option 4: 40%
Answer (1)
21st Jan, 2024
Correct Answer: 50%
Solution :
Given,
A saves 18% of his income.
His income increases by 41%.
Let the initial income be 100.
Initial savings = 18 and initial expenditure = 100 – 18 = 82
New income = 100 + 41% of 100 = 141
New savings = 18 (same amount), new expenditure = 141 – 18 = 123
So, increase in expenditure = new expenditure – initial expenditure = 123 – 82 = 41
=
=
= 50%
Hence, the correct answer is 50%.
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