A man spends 65 of his income His income increases by 20 and his expenditure also increases by 10 Th...........

Quantitative Aptitude (CPO) Percentage

A man spends 65% of his income. His income increases by 20% and his expenditure also increases by 10%. The percentage of

increase in his savings is ________.

This questions was previously asked in

SSC CPO 11th Nov 2022 Shift 1

38.5%

35.8%

10%

20%

Let's break down the problem step by step:

- Initial Situation:

- The man spends 65% of his income and saves 35%.

- Income Increase:

- Income increased by 20%. This means the new income is 120% of the original.

- Expenditure Increase:

- His expenditure increases by 10%. If he initially spent 65%, his new expenditure will be 71.5%.

- Calculation of New Savings:

- Original savings = 35% of original income.

- New income = 120% of original income.

- New expenditure = 71.5% of new income (120% of original income).

- New savings = New income - New expenditure = (120% - 71.5%) of original income = 48.5% of original income.

- Percentage Increase in Savings:

- Increase = New savings (48.5%) - Original savings (35%) = 13.5%.

- Percentage increase = (13.5% / 35%) × 100 = 38.57%.

Correct Answer: Option 1: 38.5%

Submit Error