Ravi saves 25% of his income, but due to dearness the expenses increased by 25% still he saves Rs. 30. Find his income.
A. Rs. 400
B. Rs. 480
C. Rs. 450
D. Rs. 475
Solution(By Examveda Team)
Let his original income was 100.So,
Expenses = 75
Savings = 25.
Due to dearness, expenses increased by 25% i.e.
New Expenses = 25% of 75 + 75 = 93.75.
Now,
Savings = 100 - 93.75 = 6.25.
But given, he saves Rs. 30.
So, on comparing,
6.25 = 30
1 = 30/6.25
100 = (30 * 100)/6.25 = 480.
Thus, his income was Rs. 480.
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Let Ravi's income be x Rs.
According to question
Saving=25*x/100
=x/4
Expense=income - Saving
=x-x/4
=3*x/4
According to question
New Expense=Initial income + 25 % of Initial Income
=3*x/4 + (25/100*(3*x/4))
=3*x/4+3*x/16
=15*x/16
New Saving=Income-New Expense
=x- (15*x/16)
=x/16
According to question New Saving=Rs 30
So, x/16=30
x=16*30
x=480
Ravi's income=Rs x=Rs 480
Answer = 480