Question:
Mohan's income is Rs 15500 per month. He saves 11% of his income. If his income increases by 10%, then he reduces his saving by 1%, how much does he save now?
Solution:
Mohan's saving $=11 \%$ of 15500
$=\frac{11}{100} \times 15500$
$=$ Rs. 1705
It is given that Mohan's income increases by $10 \%$.
$\therefore$ Increase in income $=\frac{10}{100} \times 15500=\mathrm{Rs} 1550$
Increased income $=$ Rs $(15500+1550)=$ Rs 17050
Now, percentage of saving $=(11-1)=10 \%$
$\therefore$ Saving $=\frac{10}{100} \times 17050=$ Rs 1705
Thus, the amounts of his present and earlier savings are the same.
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