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Alice's take-home pay last year was the same each month, and

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Alice's take-home pay last year was the same each month, and [#permalink] New post 31 Mar 2008, 12:00
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Alice's take-home pay last year was the same each month, and she saved the same fraction of her take-home pay each month. The total amount of money that she had saved at the end of the year was 3 times the amount of that portion of her monthly take-home pay that she did not save. If all the money that she saved last year was from her take-home pay, what fraction of her take-home pay did she save each month?

a) 1/2

b) 1/3

c) 1/4

d) 1/5

e) 1/6




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Re: PS: Take-home pay [#permalink] New post 31 Mar 2008, 12:16
D.

Take home pay monthly=$1
Saving (monthly)=x
Not saving=1-x
12x=3(1-x)
x=1/5
Re: PS: Take-home pay   [#permalink] 31 Mar 2008, 12:16
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Alice's take-home pay last year was the same each month, and

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