Question

Shyam’s monthly income is Rs. 12,000. He saves Rs. 1200. Find the percent of his saving and his expenditure.

Answer 1

Hint: To solve this question, we should know that Income = Savings + Expenditure. Further, to get the percent of the savings and the expenditure, we divide the value of savings and the expenditure by the income and multiply that by 100.

Complete step-by-step solution:
Now, since the savings are Rs. 1200, we can calculate the percent of the savings in relation to the monthly income earned. (since, we already know the value of savings)
Thus, percent of savings = ${\displaystyle \frac{\text{Savings}}{\text{Monthly income}}}\times 100$
Percent of savings = ${\displaystyle \frac{1200}{12000}}\times 100$
Percent of savings = 0.1$\times$100
Percent of savings =10%
Now, coming onto calculation of expenditure, we have,
Income = Savings + Expenditure
Expenditure = Income – Savings
Expenditure = 12000 – 1200
Expenditure = Rs. 10800
Now, since the calculated expenditure is Rs. 10800, we can calculate the percent of the savings in relation to the monthly income earned. (since, we now know the value of expenditure)
Percent of expenditure = ${\displaystyle \frac{10800}{12000}}\times 100$
Percent of expenditure = 0.9$\times$100
Percent of expenditure = 90%
Thus, the percent of savings is 10% and the percent of expenditure is 90%.

Note: While solving the question related to savings and expenditure, it is always important to remember that total income is calculated from the sum of savings and expenditure. Further, after getting savings percent (10% in this case). We can simply calculate the expenditure percent by subtracting this value by 100. Thus, we get, 100%-10%=90%.