A person can save only 6% of his income. Two years later his income is increased by 15% and he still saves the same amount. what is the increase percent in his expenditure?
Answer (1)
4th Dec, 2019
Hi Simran,
Let the income of the person be Rs.100
Savings of the person = 6%
So, 6% of 100 = Rs. 6
Expenditure of the person = Total Income - Total Savings
=> 100 - 6 = Rs.94
Two years later the income of the person is increased by 15%
Now, Total Income = 100 + 15% = Rs. 115
As the savings of the person is still the same amount that is Rs. 6
So, the current expenditure of the person = Rs. 115 - 6 = Rs. 109
Total increase in Expenditure = Rs. 115 - 94 = Rs.15
=> Increase % = (15 / 94) X 100
=> 15.95 % is the increase percent in the person's expenditure.
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