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The monthly income of a person is ₹13,500, and his monthly expenditure is ₹9,000. Approximately what percentage of his monthly income does he save monthly?
21%
33.33%
25%
14.28%
33.33%
Simplify the income and expenditure ratio: 13,500: 9,000 = 3: 2. Savings ratio = 3 - 2 = 1. Savings percentage = (1 / 3) * 100 = 33.33%.
Monthly income of a person = 13,500 INR, Monthly expenditure = 9,000 INR
Savings=Income−Expenditure,Savings Percentage=(IncomeSavings)×100
Simplify the income and expenditure ratio: 13,500: 9,000 = 3: 2. Savings ratio = 3 - 2 = 1. Savings percentage = (1 / 3) * 100 = 33.33%.
Students often calculate the savings percentage with respect to the expenditure instead of the monthly income.
Step 1: Calculate Monthly Savings
Subtract the monthly expenditure from the monthly income to find the savings.
Savings=13500−9000=4500
Step 2: Set up Percentage Formula
Express the savings as a percentage of the total monthly income.
Savings Percentage=(135004500)×100
Step 3: Simplify and Calculate
Simplify the fraction 135004500 to 31 and multiply by 100.
31×100=33.33%
D is correct because the monthly savings amount to ₹4,500, which is approximately 33.33% of the total monthly income of ₹13,500.
Percentage calculations are fundamental to profit and loss, simple interest, and budget allocation problems in quantitative aptitude.
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