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Question 24
Monika spends 72% of her income. If her income increases by 20% and savings increase by 15%, then her expenditure increases by: (correct to 1 decimal place)
Solution
Let the income be Rs.100.
Expenditure = 72
Saving = 100 - 72 = 28
Income after increment = 120
Saving = 28 $$\times \frac{115}{100}$$ = Rs.32.2
Expenditure = 120 - 32.2 = 87.8
Increment = 87.8 - 72 = 15.8
Percentage expenditure Increment = $$\frac{15.8}{72} \times 100 $$= 21.9%
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