New 👉 Ask your RBI Grade B 2025 Preparation Queries Here!!

    Question

    In 2018, Pritam used up 72% of his income for expenses.

    In the following year, his income rose by 20%, while his expenditure increased by 25%. What was the percentage change in his savings from the previous year?
    A 3(1/3)% Correct Answer Incorrect Answer
    B 6(2/3)% Correct Answer Incorrect Answer
    C 8(1/3)% Correct Answer Incorrect Answer
    D 9(1/11)% Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Let the income of Pritam in 2018 be Rs. '100b'. Expenditure of Pritam in 2018 = 0.72 X 100b = Rs. 72b Savings of Pritam in 2018 = 100b - 72b = Rs. 28b Increased income of Pritam in 2019 = 1.2 X 100b = Rs. 120b Increased expenditure of Pritam in 2019 = 1.25 X 72b = Rs. 90b So, savings of Pritam in 2019 = 120b - 90b = Rs. 30b Therefore, percentage increase in savings = [(30b - 28b) ÷ 30b] X 100 = 6(2/3)%

    Practice Next

    Relevant for Exams: