Math Problem Statement

Solution

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Math Problem Analysis

Mathematical Concepts

Percentage Increase
Compound Percentage Growth
Subtraction of Values

Formulas

Income in 2021-2022 = 60,000 × (1 + 9/100)
Income in 2022-2023 = Income in 2021-2022 × (1 + 12/100)
Expenditure in 2021-2022 = 60,000 × (1 + 4/100)
Expenditure in 2022-2023 = Expenditure in 2021-2022 × (1 + 11/100)
Difference = Income in 2022-2023 - Expenditure in 2022-2023

Theorems

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Suitable Grade Level

Grades 10-12