A man spends $\frac{2}{3}rd$ of his income. If his income increases by 14% and the expenditure increases by 20%, then the percentage increase in his savings will be

2%

Let the income of the man = 300

Expenditure of the man = 300 × \(\frac{2}{3}\) = 200

Savings of the man = 300 – 200 = 100

New , Increased income of the man = 300 × \(\frac{114}{100}\)= 342

New expenditure of the man = 200 ×\(\frac{120}{100}\)= 240

New saving of the man = 342 – 240 = 102

Required percentage =\(\frac{102-100}{100}\) × 100 = 2%