Question 67

A man saves 30% of his income in 1 year. If he wants to save the same amount in 8 months, then by how much percentage should he increase his monthly savings?

Solution

Let monthly income of man = Rs. 100

=> Monthly savings = $$\frac{30}{100}\times100=Rs.$$ $$30$$

Yearly savings = $$30\times12=Rs.$$ $$360$$

Now, income in 8 months = Rs. 800

Saving the same amount, his new monthly savings = $$\frac{360}{800}\times100=Rs.$$ $$45$$

$$\therefore$$ Increase in monthly savings = $$\frac{(45-30)}{30}\times100$$

= $$\frac{15}{3}\times10=50\%$$

=> Ans - (D)

Share on Whatsapp Share on Whatsapp

Create a FREE account and get: