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

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Joined: 22 Nov 2007
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This year Henry will save a certain amount of his income, [#permalink]  20 Jan 2008, 04:58
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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?

A. 1/ r+2
B. 1/ 2r+2
C. 1/ 3r+2
D. 1/ r+3
E. 1/ 2r + 3
Manager
Joined: 01 Jan 2008
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Schools: Booth, Stern, Haas
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Re: function [#permalink]  20 Jan 2008, 05:26
marcodonzelli 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?

A. 1/ r+2
B. 1/ 2r+2
C. 1/ 3r+2
D. 1/ r+3
E. 1/ 2r + 3

7-p416821?t=58190&hilit=hENRY%2C+INCOME#p416821
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Re: function [#permalink]  20 Jan 2008, 09:15

Expln. Lets say saving this year = P
Spending this year =S

As question says spending next year will be = P(1+r)
we need to find P/(P+S)
Another thing given is P(1+r) = S/2
WE CAN FIND P IN TERMS OF S AND SUBST IN P/(P+S) TO GET THE ANSWER
Re: function   [#permalink] 20 Jan 2008, 09:15
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This year Henry will save a certain amount of his income,

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