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Alice take home pay last year was the same each year, and

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Director
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Alice take home pay last year was the same each year, and [#permalink] New post 30 Sep 2006, 06:07
Alice take home pay last year was the same each year, 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.

1/2
1/3
1/4
1/5
1/6


Solution : Alice gets paid $100.00/month = $1200.00/year
Alice saves %10.00 each month = $120./year
At the end of the year she has saved (100 -10) = 90 * 3 = $180.00

This is where I get confused. Is it asking for the fraction of the pay i.e 180.00 /12 = 15 vs 120/12 = 10 ? Please help
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 [#permalink] New post 30 Sep 2006, 06:24
I would use x and y in this case

Lets assume that she did not save y amount every month ( Total yearly spent = 12y)

She save x every month (Total yearly saving = 12x)

Total Monthly and Yearky Take home = x + y & 12x + 12y

Also 12x = 3y (Total saving = 3 months of spent money)
Therefore x = (y / 4) >> y = 4x

Therefore x / (x + y) = x / ( x + 4x) = 1 / 5


Hence D

OA?[/i]
  [#permalink] 30 Sep 2006, 06:24
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Alice take home pay last year was the same each year, and

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