A person spends 60% of his income. His income increased by 15% and his expenditure increases by 5%, find the % increase in his savings.
Given
Initial Expenditure = 60% of Income
Income increase = 15%
Expenditure increase = 5%
Formula Used
Saving = Income - Expenditure
Solution
Let Income = 100, Exp = 60, Saving = 40
New Income = 115
New Exp =
New Saving = 115 - 63 = 52
Increase in Saving = 52 - 40 = 12
% Increase = %
Final Answer
So the correct answer is (d)
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