Last year Carlos saved 10 percent of his annual earnings. This year he earned 5 percent more than last year and he saved 12 percent of his annual earnings. The amount saved this year was what percent of the amount saved last year?	Select the correct option:
A) 122%  B) 124%  C) 126%  D) 128%  E) 130%
Earnings = 100 (assume).   Amount saved = 0.1*100= 
<gadget id="calculator">0.1*100</gadget>
<output>10</output>
10.   THIS YEAR:   Earnings= 100*1.05= 
<gadget id="calculator">100*1.05</gadget>
<output>105</output>
105.   Amount saved= 0.12*105 =12.6.   The amount saved this year as a percent of the amount saved last year is (this yea)/(last year)*100 = 12.6/10*100= 
<gadget id="calculator">12.6/10*100</gadget>
<output>126</output>
126%.   Answer: 126%.
<result>C</result>
Last year Carlos saved 10 percent of his annual earnings. This year he earned 5 percent more than last year and he saved 12 percent of his annual earnings. The amount saved this year was what percent of the amount saved last year?