Question

A man saves 4% of his monthly

Answer 1

Answer:

Although the question is not clear, It most likely looks like you were asking for the calculation of the savings for the month after increase.

savings for the month after increase = $1172.4

Step-by-step explanation:

First, let us calculate how much was saved before the increase in savings:

monthly income = $19,540

Percentage saved = 4% of monthly income

= 4/100 × 19,540 = 0.04 × 19,540 = $781.6

Next, we are given the ratio of increase in savings as 3:2

Let the new savings amount be x

3 : 2 = x : 781.6

$\frac{3}{2} = \frac{x}{781.6} \\781.6\ \times 3\ =2x\\2344.8 = 2x\\x =\frac{2344.8}{2} \\x = \ 1172.4$

therefore savings for the month after increase = $1172.4

Just incase you were looking for the savings before the increase, the answer is $781.6 (as calculated above)