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A man spends 75% of his income. If his income increases by 28% and his expenditure increases by 20%, then what is the increase or decrease percentage in his savings?
1. 13% increase
2. 52% decrease
3. 13% decrease
4. 52% increase

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Correct Answer - Option 4 : 52% increase

Given:

Man spends 75% of his income.

Income increases by 28% 

Expenditure increases by 20%

Concept:

Saving = Income – Expenditure 

Solution:

Let the Income of a man = 100

Expenditure = 75% of 100

⇒ (75/100) × 100 = 75

Saving = Income – Expenditure 

Initial Saving = 100 – 75 = 25      ----(1)

Now as per the question,

His income increased by 28%

⇒ His new income = Old income + 28% of Old income

⇒ His new income = (128/100) × 100 = 128

Similarly, his expenditure increased by 20%

⇒ His new expenditure = (120/100) × 75

⇒ His new expenditure = 90

Saving(new) = Income(new) – Expenditure(new)

⇒ Saving(new) = 128 - 90 = 38      ----(2)

Now, % increase in savings = {(38 – 25)/25} × 100      ----(from 1 and 2)

⇒ 13 × 4 = 52%

∴ The % increase in saving is 52%

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