Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized for You

we will pick new questions that match your level based on your Timer History

Track Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Thank you for using the timer!
We noticed you are actually not timing your practice. Click the START button first next time you use the timer.
There are many benefits to timing your practice, including:

Alice’s take-home pay last year was the same each month, and [#permalink]
26 Mar 2010, 16:21

2

This post received KUDOS

4

This post was BOOKMARKED

00:00

A

B

C

D

E

Difficulty:

45% (medium)

Question Stats:

55% (02:20) correct
45% (01:34) wrong based on 289 sessions

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?

Re: please help me set up the equation for this problem [#permalink]
26 Mar 2010, 16:39

19

This post received KUDOS

Expert's post

1

This post was BOOKMARKED

changhiskhan wrote:

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

Thanks,

Let Alice's monthly take-home pay be p and her monthly savings be s. Total savings will be 12s and we know that this is 3 times the amount she spends in month which is: p-s. So we have:

Re: please help me set up the equation for this problem [#permalink]
27 Mar 2010, 03:17

1

This post received KUDOS

changhiskhan wrote:

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 Thanks,

x - monthly take home y - monthly save x-y - monthly expenditure given, 12y = 3(x-y) => x = 5y to calculate, y/x = 1/5 hence D

Re: Alice’s take-home pay last year was the same each month, and [#permalink]
04 Jul 2014, 02:02

1

This post received KUDOS

Expert's post

bytatia wrote:

changhiskhan wrote:

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

I had a different approach to this question and I still don't understand why it doesn't work this way. Because the way people on this thread used, didn't come to my mind at all.

So let x be the amount she earns each month. Then she earned total of 12x in a year.

so I know that from this amount 3x was spent and 9x was saved.

so 9x/12=3x/4 was her monthly save.

(3x/4)/x= 3/4

and there isn't even an answer like that. I must be getting something completely wrong but I can't seem to understand where exactly i'm going wrong.

The total amount of money that she saved in a year was 3 times the amount of the money she spent per month. _________________

I know i am terribly missing something, please elaborate

OA soon

Let's call the fraction of pay PER MONTH that Alice saved S, and the fraction of pay that she did not save N. Therefore: (% of pay saved) + (% of pay spent) = 100% S + N = 1

The second sentence in the question states that Alice's total yearly savings is equal to three times the amount she would NOT save (a.k.a. the spending) in one month. Therefore: (yearly savings) = (3 * monthly spending) (12 * monthly saving) = (3 * monthly spending) 12S = 3N 4S = N

Now plug this into the top equation to find a value for S: 4S = N S + N = 1 S + (4S) = 1 5S = 1 S = 1/5

Therefore, the answer is D.

I'd be willing to bet that you didn't read carefully enough and you thought the second sentence in the question said, " The total amount of money at the end of the year that she had saved was 3 times the portion that she had spent." This is what I thought during my first read-through -- and I spent about 15 seconds working the problem incorrectly!

I'd be willing to bet that you didn't read carefully enough and you thought the second sentence in the question said, " The total amount of money at the end of the year that she had saved was 3 times the portion that she had spent." This is what I thought during my first read-through -- and I spent about 15 seconds working the problem incorrectly!

Damn, i got this wrong! you are absolutely right.! I got a completely diffrent fraction cos of my carelessness!

Re: Alice’s take-home pay last year was the same each month, and [#permalink]
07 Apr 2014, 10:57

Hello from the GMAT Club BumpBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email. _________________

Re: Alice’s take-home pay last year was the same each month, and [#permalink]
03 Jul 2014, 17:36

changhiskhan wrote:

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

I had a different approach to this question and I still don't understand why it doesn't work this way. Because the way people on this thread used, didn't come to my mind at all.

So let x be the amount she earns each month. Then she earned total of 12x in a year.

so I know that from this amount 3x was spent and 9x was saved.

so 9x/12=3x/4 was her monthly save.

(3x/4)/x= 3/4

and there isn't even an answer like that. I must be getting something completely wrong but I can't seem to understand where exactly i'm going wrong.

Re: Alice’s take-home pay last year was the same each month, and [#permalink]
04 Jul 2014, 02:37

bytatia wrote:

changhiskhan wrote:

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

I had a different approach to this question and I still don't understand why it doesn't work this way. Because the way people on this thread used, didn't come to my mind at all.

So let x be the amount she earns each month. Then she earned total of 12x in a year.

so I know that from this amount 3x was spent and 9x was saved.

so 9x/12=3x/4 was her monthly save.

(3x/4)/x= 3/4

and there isn't even an answer like that. I must be getting something completely wrong but I can't seem to understand where exactly i'm going wrong.

The problem does not state that 1/4 th of the amount earned is spent OR 3/4 th of the amount earned in saved.

We have to take another variable to compute the savings amount & draw relation between Total saved & Not Saved

As always, Bunuel's method is the best to get along _________________

Kindly press "Kudos" to appreciate

gmatclubot

Re: Alice’s take-home pay last year was the same each month, and
[#permalink]
04 Jul 2014, 02:37