A man's income is Rs. 25000. He spends 40% on food, 30% on rent, 20% on other items and saves the rest. By what percent should he reduce his food expenditure to increase his savings by 20%? MCQ with Answer and Explanation
A man's income is Rs. 25000. He spends 40% on food, 30% on rent, 20% on other items and saves the rest. By what percent should he reduce his food expenditure to increase his savings by 20%?
A. 6%
B. 4%
C. 7%
D. 5%
Answer: Option D
Solution (By JKSSB Mock Tests)
Present savings = 10% of 25000 = 2500. New savings = 3000. Reduction in food = 500. Food = 10000, % reduction = (500/10000)×100 = 5%.
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