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Rohit saves 12% of his income in a bank, which is Rs. 1440 in 1997. If his current salary is 10 times more than the salary in 1997 and still he saves the same percentage of his salary. What is the difference between saving in 1997 and now?

Rohit saves 12% of his income in a bank, which is Rs. 1440 in 1997. If his current salary is 10 times more than the salary in 1997 and still he saves the same percentage of his salary. What is the difference between saving in 1997 and now? Correct Answer Rs. 12960

Calculation:

Let the salary if Rohit in 1997 = x

Then, 12% of x = 1440

⇒ x = (1440 × 100)/12 = Rs. 12000

Rohit’s current salary is 10 times of old salary = 10 × 12000 = Rs. 120000

Now, 12% of Rs. 120000 = (12 × 120000)/100 = Rs. 14400

Difference between current salary and old salary = Rs. 14400 – Rs. 1440 = Rs. 12960

∴ Required Difference between salaries = Rs. 12960

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