A person saves 10% of his income. If his income is increased by 20% and he saves 15% of the new income, by what percent his savings will increase?  Choose the correct choice from the following answers:
A) 80%	B) 90%	C) 70%	D) 60%	E) 50%
Ans. Let previous income = Rs. 100   Previous savings = 10% of Rs. 100 = Rs. 10   Increased income = Rs. 100 + 20% of Rs. 100 = Rs. 120   Increased savings = 15% of Rs. 120 = Rs. 18   Therefore, Increase in savings = Rs. 18 - Rs. 10 = Rs. 8   Therefore, Percent increase in savings = 8/10 x 100 = 80%   80%nswer 80%
<result>A</result>
A person saves 10% of his income. If his income is increased by 20% and he saves 15% of the new income, by what percent his savings will increase?