Monthly income and monthly savings of Manish is decreased by 15% and 20%, respectively. If his monthly expenditure remains the same, then find the ratio of his initial salary and initial expenditure.
Question
Monthly income and monthly savings of Manish is decreased by 15% and 20%, respectively. If his monthly expenditure remains the same, then find the ratio of his initial salary and initial expenditure.
Solution
Let's assume Manish's initial monthly income was 100 units and his monthly expenditure was E units. This means his savings were (100 - E) units.
After the decrease, his income is now 85 units (a decrease of 15%) and his savings are now 80% of (100 - E), which is 0.8*(100 - E) units.
Since his expenditure remains the same, we can set up the following equation:
Income - Expenditure = Savings 85 - E = 0.8*(100 - E)
Solving this equation for E, we get:
E = 85 - 0.8*(100 - E) E = 85 - 80 + 0.8E 0.2E = 5 E = 5 / 0.2 E = 25 units
So, the ratio of his initial salary to his initial expenditure is 100:25 or 4:1.
Similar Questions
Amina saves 16% of her income. Now her income is increased by 20% but she still saves the same amount as before. What is the percentage increase in her expenditure?
The ratio of income in two consecutive years is 2: 3 respectively. The ratio of their expenditure is 5: 9. Income of second-year is Rs 45000 and Expenditure of first-year is Rs 25000. Find the Savings in both years together.
The ratio of expenditure and savings of a person is 5 : 3. If the income increases by 20% and the expenditure increases by 10%, then the person’s savings increase by?
Arun spent 60% of his monthly salary on accommodation, 15% of remaining salary on entertainment and remaining salary he saved. If the difference of amount spent on accommodation and his saving is Rs 3510, then find his monthly salary?
A person spends 60% of his income. If his income increases by 15% and expenditure increases by 5%, then find percentage change on his savings?
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.