BREAKING: Target Test Prep releases Brand New 2026 On Demand GMAT prep course

Redeem

Income & Saving

This topic has expert replies
Post new topic Post Reply
Previous Topic Next Topic
Junior | Next Rank: 30 Posts
Posts: 28
Joined: Sun Aug 08, 2010 10:47 am

Income & Saving

by pradeepspanchal » Tue Dec 14, 2010 7:58 am
In the year 2001, a man spends 40% of his total income on food. In 2002 his income increases by 40% and his expenditure on food increases by 50% with respect to 2001. In 2003 his income increases by another 25% based on 2002 and his expenditure on food increase by 16.66% based on the expenditure on food in 2001. What percent is his expenditure on food of total income in 2003?

a) 40 %
b) 50 %
c) 10 %
d) 70%
e) None

I think I am making some calculation mistake. Please help.
Top
Source: — Problem Solving |
Legendary Member
Posts: 537
Joined: Fri Jan 22, 2010 10:06 pm
Thanked: 14 times
Followed by:1 members

by frank1 » Tue Dec 14, 2010 8:14 am
pradeepspanchal wrote:In the year 2001, a man spends 40% of his total income on food. In 2002 his income increases by 40% and his expenditure on food increases by 50% with respect to 2001. In 2003 his income increases by another 25% based on 2002 and his expenditure on food increase by 16.66% based on the expenditure on food in 2001. What percent is his expenditure on food of total income in 2003?

a) 40 %
b) 50 %
c) 10 %
d) 70%
e) None

I think I am making some calculation mistake. Please help.
i am also getting around 26% which suggests that answer should be E...

2001-------100 ------------------40
2002-------140-------------------60
2003------140+35=175--------40+7=47
GMAT score is equally counted as your GPA and 78 clicks can change you life.
Top
Legendary Member
Posts: 1119
Joined: Fri May 07, 2010 8:50 am
Thanked: 29 times
Followed by:3 members

by diebeatsthegmat » Tue Dec 14, 2010 11:18 am
pradeepspanchal wrote:In the year 2001, a man spends 40% of his total income on food. In 2002 his income increases by 40% and his expenditure on food increases by 50% with respect to 2001. In 2003 his income increases by another 25% based on 2002 and his expenditure on food increase by 16.66% based on the expenditure on food in 2001. What percent is his expenditure on food of total income in 2003?

a) 40 %
b) 50 %
c) 10 %
d) 70%
e) None

I think I am making some calculation mistake. Please help.
i also solved and found the answer is E
what the Oa do you have? outline your calculation mistake....we'd love to see
Top
Post new topic Post Reply
• Page 1 of 1