Question
Download Solution PDFThe expenditure on the cost of living of a man and his family is 60% of his salary. He gets two increment of 30% and 60% in his salary. If his saving increases by 250% of his initial saving, then the new cost of living expenditure is what percentage (rounded off to the nearest integer) of the increased salary?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
The expenditure on the cost of living of a man and his family is 60% of his salary.
He gets two increment of 30% and 60% in his salary. If his saving increases by 250% of his initial saving
Calculation:
Let the salary of the man be 100a
So, expenditure = 100a × 60%
⇒ 60a
Savings = 100a - 60a
⇒ 40a
Now,
His new salary = 100a × 130% × 160%
⇒ 208a
His new savings = 40a + 40a × 250%
⇒ 140a
Expenditure = 208a - 140a
⇒ 68a
Required % = (68a/208a) × 100
⇒ 32.69 ≈ 32.70%
∴ The required answer is 32.7%.
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