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Alice's take-home pay last year was the same each month, and

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Joined: 08 Jun 2004
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Alice's take-home pay last year was the same each month, and [#permalink]

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14 May 2006, 05:53
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1.Alice's take-home pay last year was the same each month, and she saved the 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 that she saved last year was from her take-home pay, what fraction of her take-home pay did she save each month?

a.1/2
b.1/3
c.1/4
d.1/5
e.1/6

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Intern
Joined: 18 Apr 2006
Posts: 36

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14 May 2006, 06:00

Lets pick some sumbers and try to solve:

assume the monthly take home pay is 100
if she saves 20 each month then the savings for the year will be 240 which is 3 times 80 ( monthly non savings part)

hence , the fraction will be 20 /100 -> 1/5

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Senior Manager
Joined: 09 Mar 2006
Posts: 444

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14 May 2006, 06:19
Pay: X
Saved: Y
Non-saved: X - Y

12*Y = 3( X-Y)
5Y = X
Y/X = 1/5

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Director
Joined: 16 Aug 2005
Posts: 937

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Location: France

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14 May 2006, 13:46

Let monthly salary be 100

3*(100-x) = 12x

Solve for x = 20

fraction = 20/100 = 1/5

Kudos [?]: 28 [0], given: 0

14 May 2006, 13:46
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