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Abigail used to save 40% of her salary in 2013. Her salary increased b

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Abigail used to save 40% of her salary in 2013. Her salary increased b  [#permalink]

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New post 05 Nov 2019, 01:35
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E

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Question Stats:

51% (01:35) correct 49% (01:59) wrong based on 59 sessions

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Abigail used to save 40% of her salary in 2013. Her salary increased by 100% in 2014 and by 50% in 2015, but her expenses remained the same throughout. What was the percentage increase in her annual savings over the two years?

A. 200%
B. 240%
C. 300%
D. 500%
E. 600%


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Re: Abigail used to save 40% of her salary in 2013. Her salary increased b  [#permalink]

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New post 05 Nov 2019, 04:15
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1
IMO D 500%
Year | Salary | Saving
2013 | 100 | 40
2014 | 200 | 140
2015 | 300 |240

Savings went from 40 to 240 in 2 years.

Increase/Change in saving over 2 years= 200
Base =40

Percent increase = \(\frac{Change}{Base}*100\)= \(\frac{40}{200}*100\) =500%

Hence D
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Re: Abigail used to save 40% of her salary in 2013. Her salary increased b  [#permalink]

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New post 11 Nov 2019, 14:32
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Bunuel wrote:
Abigail used to save 40% of her salary in 2013. Her salary increased by 100% in 2014 and by 50% in 2015, but her expenses remained the same throughout. What was the percentage increase in her annual savings over the two years?

A. 200%
B. 240%
C. 300%
D. 500%
E. 600%


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We can let Abigail’s salary in 2013 be $100. Thus, she spent $60 and saved $40. In 2015, her salary was 100 x 2 x 1.5 = $300. Since she still spent $60, she saved $240. Therefore, the percent increase in her annual savings over the two years was:

(240 - 40)/40 x 100 = 5 x 100 = 500

Answer: D
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Re: Abigail used to save 40% of her salary in 2013. Her salary increased b   [#permalink] 11 Nov 2019, 14:32
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