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A man spends 75% of his income. His income increases by 20%, but his expenditure remains the same. By what percent do his savings increase?

1. 60%
2. 75%
3. 80%
4. 100%

Correct answer: 80%

Solution

Let the original income be 100. Then expenditure = 75 and savings = 25. New income = 120, expenditure remains 75, so new savings = 45. Increase in savings = 20, which is \(20/25\times100=80\%\).

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