A man spends 70% of his income. If his income increases by 20% and his expenditure increases by 10%, what is the percentage increase in his savings? MCQ with Answer and Explanation

Let income = 100, expenditure = 70, savings = 30. New income = 120. New expenditure = 77. New savings = 120 - 77 = 43. Increase in savings = 43 - 30 = 13. Percentage increase = (13 / 30) * 100% = 43.33%.