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This year Henry will save a certain amount of his income, [#permalink]
16 Jan 2006, 10:32

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This year Henry will save a certain amount of his income, and he will spend the rest. Next year Henry will have no income, but for each dollar that he saves this year, he will have 1 + r dollars available to spend. In terms of r, what fraction of his income should Henry save this year so that next year the amount he was available to spend will be equal to half the amount that he spends this year?

Re: PS word problem [#permalink]
17 Jan 2006, 15:09

sperumba wrote:

This year Henry will save a certain amount of his income, and he will spend the rest. Next year Henry will have no income, but for each dollar that he saves this year, he will have 1 + r dollars available to spend. In terms of r, what fraction of his income should Henry save this year so that next year the amount he was available to spend will be equal to half the amount that he spends this year?

Total income = x
Saved = y
Spent = x-y

Total available to spend next year = y(1+r)

As per question y(1+r) = (x-y)/2

i.e y = x/(3+2r)

Fraction of total income (y/x) = 1/(3+2r) _________________

Re: PS word problem [#permalink]
21 Jan 2006, 18:55

sperumba wrote:

This year Henry will save a certain amount of his income, and he will spend the rest. Next year Henry will have no income, but for each dollar that he saves this year, he will have 1 + r dollars available to spend. In terms of r, what fraction of his income should Henry save this year so that next year the amount he was available to spend will be equal to half the amount that he spends this year?

you mind, if i ask you where did you get this questions from?

Late but got 1/(3+2r) as well. Good question supermba! _________________

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