A person saves 33\displaystyle\frac{1}{3}\% of his income. If the saving increases by 22% and the expenditure increases by 10%, then the percentage increase in his Income is:
(a) 18%
(b) 14%
(c) 16%
(d) 22%
{Previously asked in SSC CGL Mains 2020}
Ans: (b) 14%
Explanation:
% Increase in income = \displaystyle\frac{0.42}{3}\times 100 = 14\%
If we want to avoid the fraction we could have multiplied the initial ratios by 100
% Increase in income = \displaystyle\frac{42}{300}\times 100 = 14\%
Or we could have taken the minimum multiplication factor i.e. LCM (50, 10) = 50.
See the following figure
% Increase in income = \displaystyle\frac{21}{150}\times 100 = 14\%
You can go with any approach which is convenient to you.
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All the three methods you have discussed is basically same. First two are okay but third method is quite complex.
If percentage values given are quite odd, the third method can come handy.
You can solve this problem with other two approach and third approach and will find the difference.