This year Henry will save a certain amount of his income, : Quant Question Archive [LOCKED]
Check GMAT Club Decision Tracker for the Latest School Decision Releases http://gmatclub.com/AppTrack

 It is currently 23 Jan 2017, 21:53

### GMAT Club Daily Prep

#### 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

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

# Events & Promotions

###### Events & Promotions in June
Open Detailed Calendar

# This year Henry will save a certain amount of his income,

Author Message
Senior Manager
Joined: 14 Jul 2006
Posts: 281
Followers: 1

Kudos [?]: 1 [0], given: 0

This year Henry will save a certain amount of his income, [#permalink]

### Show Tags

23 Aug 2006, 00:51
This topic is locked. If you want to discuss this question please re-post it in the respective forum.

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?

A. 1/(r+2)
B. 1/(2r+2)
C. 1/(3r+2)
D. 1/(r+3)
E. 1/(2r+3)
Director
Joined: 13 Nov 2003
Posts: 790
Location: BULGARIA
Followers: 1

Kudos [?]: 47 [0], given: 0

### Show Tags

23 Aug 2006, 03:09
Hallo Apolo,
It=EXt+St
EXn=St*(1+r)

Sn=? if EXn=(EXt/2)
WHERE
t-stands for this year
n-next year
EX -expended
S-saved
I-income
Substitute and get E
Manager
Joined: 22 May 2006
Posts: 71
Followers: 1

Kudos [?]: 0 [0], given: 0

### Show Tags

23 Aug 2006, 03:23
let us assume he is having x dollars this year,
he spends y dollars, and x-y dollars remains with him
now we hav to calculate (x-y)/x in terms of r
for that we have an equation:
(x-y)(1+r)=y/2
=>x-y=y/[2(1+r)]-----------(eq 1)
x-y+y=y/[2(1+r)]+y=>x=[y(3+2r)]/[2(1+r)]---------(eq 2)
eq 1/eq 2 gives us the answer and its 1/(3+2r)
23 Aug 2006, 03:23
Display posts from previous: Sort by

# This year Henry will save a certain amount of his income,

 Powered by phpBB © phpBB Group and phpBB SEO Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.