A man saves 20% of his income. If his income increases by 10% and his savings percentage remains the same, his savings increase by:

Topic: Percentages
Subtopic: Income &amp; Saving

A5%

B8%

C10%

D12%

Explanation

Let Income = 100. Saving = 20. New Income = 110. New Saving = 20% of 110 = 22. Increase = (22-20)/20 * 100 = 10%.

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