Question

Mohan’s income is Rs 15500 per month. He saves 11% of his income. If his income increases by 10%, then he reduces his saving by 1%, how much does he save now?

Answer 1

Mohan monthly income is = Rs 15500

Mohan savings is = 11% of 15500

= 15500 × 11/100

= Rs 1705

Monthly income increases by = 10%

New monthly income is = 15500 + 10/100 × 15500

= 15500 + 1550

= Rs 17050

When savings reduced by 1% will result in = 11 – 1 = 10% of 17050

New savings = (10/100) × 17050

= Rs 1705

∴ Savings is Rs 1705, which remains the same even after increment.