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 50% 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?
Choose the correct choice from the following choices:
A) 40%
B) 45%
C) 50%
D) 60%
E) 70%
1st year Income= I   1st year savings= S   1st year Expense= E1   2nd year Income = 1.5I   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 50% income the savings increased by 100%.   or S= .5I   or S= 50% of Income   50% is the answer
<result>C</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 50% 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?