Bhavya earns ₹50,000 per month and spends 80% of it. Due to pay revision, her monthly income increases by 20% but due to price rise, she has to spend 20% more. Find her new savings.
Solution:
Given, Bhavya earns ₹50,000 per month and spends 80% of it.
Due to pay revision, her monthly income increases by 20%
Due to the price rise, she has to spend 20% more.
We have to find her new savings.
According to the question,
Monthly income = ₹50,000
Expenditure = 80%
Amount spent = 80% of 50,000
= (80/100) × 50,000
= 80 × 500
= ₹40,000
We know, savings = total income - expenditure
= ₹50,000 - ₹40,000
= ₹10,000
Monthly income after pay revision = ₹50,000 + 20% of ₹50,000
= 50,000 + (20/100) × 50,000
= 50,000 + 10,000
New income = ₹60,000
Increase in expenditure = 40,000 + 20% of 40,000
= 40,000 + (20/100) × 40,000
= 40,000 + 8,000
New expenditure = ₹48,000
New savings = new income - new expenditure
= 60,000 - 48,000
= ₹12,000
Therefore, the new savings is ₹12,000.
✦ Try This: A sum of money lent out at simple interest, doubles itself in 8 years. Find the rate of interest.
☛ Also Check: NCERT Solutions for Class 7 Maths Chapter 8
NCERT Exemplar Class 7 Maths Chapter 7 Problem 114
Bhavya earns ₹50,000 per month and spends 80% of it. Due to pay revision, her monthly income increases by 20% but due to price rise, she has to spend 20% more. Find her new savings.
Summary:
Bhavya earns ₹50,000 per month and spends 80% of it. Due to pay revision, her monthly income increases by 20% but due to price rise, she has to spend 20% more. Her new savings is ₹12,000.
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