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A family's savings for a month is calculated by subtracting its total

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A family's savings for a month is calculated by subtracting its total  [#permalink]

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New post 21 Jul 2018, 10:03
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Question Stats:

37% (01:57) correct 63% (02:21) wrong based on 49 sessions

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A family's savings for a month is calculated by subtracting its total expenditure from its total income, for that particular month. If for every month, family's income is more than its expenditure and if both income and expenditure of this family increased in August over July, then what was the percentage increase in family's savings in August over July?

(1) Family's expenditure in July was 20% less than that in August.

(2) Family's income in August was 25% more than that in July.
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Re: A family's savings for a month is calculated by subtracting its total  [#permalink]

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New post 21 Jul 2018, 18:35
amanvermagmat wrote:
A family's savings for a month is calculated by subtracting its total expenditure from its total income, for that particular month. If for every month, family's income is more than its expenditure and if both income and expenditure of this family increased in August over July, then what was the percentage increase in family's savings in August over July?

(1) Family's expenditure in July was 20% less than that in August.

(2) Family's income in August was 25% more than that in July.


Clearly the statements individually are insufficient as each talks of only one aspect..
Let expenditure in July be x and income be y, so savings will be y-x

1) Be careful on what is the base
So x=80% of August expenditure......X=0.8(August expenditure)
August expenditure=\(\frac{X}{0.8}=10x/8=5x/4=1.25x\)
Nothing about income
Insufficient
2) income in August=1.25y..
Insufficient

Combined..
August expenditure=1.25x
August income=1.25y
Savings in August= 1.25y-1.25x=1.25(y-x)
So savings in August are 25% more than savings in July
Sufficient

C
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1) Absolute modulus : http://gmatclub.com/forum/absolute-modulus-a-better-understanding-210849.html#p1622372
2)Combination of similar and dissimilar things : http://gmatclub.com/forum/topic215915.html
3) effects of arithmetic operations : https://gmatclub.com/forum/effects-of-arithmetic-operations-on-fractions-269413.html


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Re: A family's savings for a month is calculated by subtracting its total &nbs [#permalink] 21 Jul 2018, 18:35
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