Question

Rahul has 20% more money than Anuj. If Rahul wins a lottery and his total money increases by 40% by what percent should ANUJ increase his money so that both have the same amount of money? 
1. 68%
2. 40%
3. 70%
4. 55%

Answer 1

Correct Answer - Option 1 : 68%

GIVEN:

Rahul's money = 120% of Anuj's money

Increase in Rahul's money = 40%

EXPLANATION:

Let Rahul's money be A and Anuj's money be B

A = 120% of B 

⇒ A/B = 6/5

⇒ A = 6 units, B = 5 units

After increase A becomes 140% of 6 

⇒ 140/100 × 6 = 8.4 units

Increase in B to become equal = 8.4 - 5 = 3.4 units

⇒ % Increase = 3.4/5 × 100 = 68%

∴ Anuj should increase by 68%