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. 5%
C. 4%
D. 7%
Answer: Option B
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%.
A man's salary is increased by 10% in the first year, by 20% in the second year, and decreased by 10% in the third year. If his final salary is Rs. 35640, find his initial salary.
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