A person spends 40 of his monthly income The monthly income of the person is increased by l 5 and hi...........

Quantitative Aptitude (MTS) Percentage

A person spends 40% of his monthly income. The monthly income of the person is increased by l 5% and his expenditure is

decreased by 22%. What is the approximate percentage increase in his savings?

This questions was previously asked in

SSC MTS 5th July 2022 Shift-3

40%

44%

32%

36%

- Let's break it down using facts:

- The person initially spends 40% of his income. Thus, he saves 60%.

- His income rises by 15%.

- His expenditure decreases by 22%.

- Let's calculate the percentages:

- New income = 115% of original income.

- New expenditure = 78% of original 40% expenditure.

- Percentage of new expenditure: 0.78 * 0.40 = 0.312 or 31.2% of the original income.

- New savings = 115% - 31.2% = 83.8% of original income.

- Initial savings were 60%, now it's 83.8%, showing an increase of 23.8%.

- Hence, approximate percentage increase in savings:

- \((83.8 - 60) / 60 \times 100 \approx 39.67\%\), which rounds to 40%.

- Option 1: 40% is the correct answer.

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