Mangesh saves ₹ 200/- every month out of his pocket money.
Identify and explain the concepts from the given illustrations:
Mangesh saves ₹ 200/- every month out of his pocket money.
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Savings :
Saving is a part of income, which is kept aside to meet future needs. In the above illustration, since Mangesh is foregoing his current consumption, it forms his part of savings.
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