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Alice's take-home pay was the same each month, and she saved [#permalink]
06 Sep 2005, 20:01

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Difficulty:

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Question Stats:

100% (01:04) correct
0% (00:00) wrong based on 5 sessions

Alice's take-home pay was the same each month, and she saved the same fraction of her take-home pay each month. The total amount of money 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?

(1) 1/2
(2) 1/3
(3) 1/4
(4) 1/5
(5) 1/6

This seems fairly simple by plugging in numbers, but can anyone suggest a way to solve it algebraically? I can't seem to set up the equations.

Alice's take-home pay was the same each month, and she saved the same fraction of her take-home pay each month. The total amount of money 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?

solution:

Suppose the portion of her salary that she saved is X
and the remaining portion is Y

X+Y= total take home salary

given, 12X = 3Y

or 4X = Y

Total take-home salary= X+ 4X= 5X

hence, she saved 1/5-th portion of her take home salary

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