Question 69

Krishnamurthy earns Rs. 15000 per month and spends 80% of it. Due to pay revision,his monthly income has increased by 20%, but due to price rise, he has to spend 20% more. His new savings are

Solution

Initial income = Rs 15000

Initial expenditure = $$ 15000 \times \frac{80}{100} $$

= 12000

New income = $$ 15000 \times \frac{120}{100} $$

= 18000

New expenditure = $$ 12000 \times \frac{120}{100} $$

= 14400

New savings = 18000 - 14400

= 3600

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