Multiple Choice Questions on The income of a person is 10000 and its expenditure is 6000 and thus saves 4000rs In the next year h........... for SSC CHSL Preparation

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Indian Economy - Understanding the basics of Indian economic system

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    The income of a person is 10000 and its expenditure is 6000 and thus saves 4000rs. In the next year his income is increased by 10% and its expenditure increased by 20%. Now his saving is what percent lower than the previous saving.

     

    5%
     

    Correct Answer

    7.5%
     

    Incorrect Answer

    10%
     

    Incorrect Answer

    15%

    Incorrect Answer
    Explanation:

    Initially I-E = S (I = Income, E = expenditure, S = saving)
    10000-6000 = 4000(saving)
    Now, I = 11000 and E = 7200. So saving = I – E = 3800.
    [(4000-3800)/4000]*100 = 5%

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