A question from GMAT PREP!

Alice's take home pay was the same each month, and she saved 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 she saved last year was from her take home pay, what fraction of her take home pay did she save each month?

I Got D, 1/5

let H be her monthly take home pay and x be the fraction saved each month from take home pay.

monthly savings from take homepay = xH and yearly savings = 12xH

we are told 12xH = 3H(1-x) ==> 15xH = 3H ==> x = 1/5

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Thanks, Sri

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