In the month of January, you earned Rs 10,000 and incurred expenditures of Rs 4,500. To calculate the percentage of income saved, you can use the formula:
Therefore, in the month of January, you saved 55% of your income after considering the expenditure of Rs 4,500. This indicates a positive savings rate, reflecting a healthy financial practice of setting aside a significant portion of your earnings.
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Answer:
In the month of January, you earned Rs 10,000 and incurred expenditures of Rs 4,500. To calculate the percentage of income saved, you can use the formula:
\[ \text{Savings \%} = \left( \frac{\text{Income - Expenditure}}{\text{Income}} \right) \times 100 \]
Substituting the given values:
\[ \text{Savings \%} = \left( \frac{10,000 - 4,500}{10,000} \right) \times 100 \]
\[ \text{Savings \%} = \left( \frac{5,500}{10,000} \right) \times 100 \]
\[ \text{Savings \%} = 55\% \]
Therefore, in the month of January, you saved 55% of your income after considering the expenditure of Rs 4,500. This indicates a positive savings rate, reflecting a healthy financial practice of setting aside a significant portion of your earnings.