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Formula for CI

A man spends ...

Question

A man spends 75% of his income. If his income is increased by 20% and the increased his expenditure by 10%. By what % will his savings increase?

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Solution

Let his income be Rs.100 Expenditure = Rs. 75
Now Income is increased by 20%
New income = 120 expenditure is increased by 10% = $\frac{75 \times 110}{100} = R s .82 .50$
Saving = 120 - 82.50 = 37.50
Earlier saving = 100 - 75 = 25
Increase in saving = $\frac{37.50 - 25}{25} = 100 = 50 %$

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