A man saves a certain portion of his income during a year and spends the remaining portion on his personal expenses. Next year his income increases by 30% but his savings increase by 100%. If his total expenditure in 2 years is double his expenditure in 1st year, What %age of his income in the first year did he save?
Select the correct option:
A) 21%
B) 22.5%
C) 25%
D) 30%
E) 40%
1st year Income= I   1st year savings= S   1st year Expense= E1   2nd year Income = 1.3I   2nd year savings= 2S (100% increase)   2nd Year expense= E2   E1+ E2= 2E1   E2=E1   That means Expenses are same during both years. With increase of 30% income the savings increased by 100%.   or S= .3I   or S= 30% of Income   30% is the answer
<result>D</result>
A man saves a certain portion of his income during a year and spends the remaining portion on his personal expenses. Next year his income increases by 30% but his savings increase by 100%. If his total expenditure in 2 years is double his expenditure in 1st year, What %age of his income in the first year did he save?