Exams › SSC CGL (Prelims) › General

A person earns $26,500 per month and spends $20,500 per month. The following year, income rises by 12% and expenditure rises by 6%. By what percentage do monthly savings increase?

1. 32.5%
2. 27.3%
3. 32.0%
4. 34.7%

Correct answer: 32.5%

Solution

Original savings = 6000. New income = 26500 × 1.12 = 29680; new expenditure = 20500 × 1.06 = 21730; new savings = 7950. Percentage increase = (7950 – 6000)/6000 × 100 = 32.5%.

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