The monthly income of Reena was ₹75,200 and her monthly expenditure was ₹22,500. Next year, her income increased by 25% and her expenditure by 14%. Find the percentage increase in her savings (rounded off to 2 decimal places).
- A30.75%
- B34.80%
- C28.25%
- D29.70%
Solution & Step-by-step Explanation
Initial Income (I
1
) = ₹75,200
Initial Expenditure (E
1
) = ₹22,500
Initial Savings (S
1
) = I
1
−E
1
=75200−22500=52700
New Income (I
2
) = 75200×(1+
100
25
)=75200×1.25=94000
New Expenditure (E
2
) = 22500×(1+
100
14
)=22500×1.14=25650
New Savings (S
2
) = I
2
−E
2
=94000−25650=68350
Increase in savings = S
2
−S
1
=68350−52700=15650
Percentage increase in savings =
52700
15650
×100≈29.696%≈29.70%
1
) = ₹75,200
Initial Expenditure (E
1
) = ₹22,500
Initial Savings (S
1
) = I
1
−E
1
=75200−22500=52700
New Income (I
2
) = 75200×(1+
100
25
)=75200×1.25=94000
New Expenditure (E
2
) = 22500×(1+
100
14
)=22500×1.14=25650
New Savings (S
2
) = I
2
−E
2
=94000−25650=68350
Increase in savings = S
2
−S
1
=68350−52700=15650
Percentage increase in savings =
52700
15650
×100≈29.696%≈29.70%