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Intern  B
Joined: 31 Dec 2017
Posts: 27
Concentration: Finance
Re: Alice’s take-home pay last year was the same each month, and  [#permalink]

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changhiskhan wrote:
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

pay per month = $$x$$
pay last year = $$12x$$

savings per month = $$\frac{1}{y}(x) = \frac{x}{y}$$
savings last year = $$\frac{12x}{y}$$

spending each month = $$x - \frac{x}{y} = \frac{(xy-x)}{y}$$
spending last year = $$\frac{12(xy-x)}{y}$$

$$\frac{12x}{y} = \frac{3[xy-x]}{y}$$
$$\frac{4x}{y} = \frac{xy-x}{y}$$
$$4x = xy-x$$
$$5x = xy$$
$$y = 5$$.

Fraction = $$\frac{1}{5}$$.
Intern  B
Joined: 16 Oct 2017
Posts: 37
Re: Alice’s take-home pay last year was the same each month, and  [#permalink]

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EMPOWERgmatRichC wrote:
Hi All,

We can solve this question with some algebra, but you have to be detailed with how you assign variables.

If...
X = the amount of money Alice EARNED per month
Y = the amount of money Alice SAVED per month
Y/X = the FRACTION of her paycheck she saved per month
then...
12Y = the amount of money Alice saved in ONE YEAR

Since the TOTAL amount saved = 3 times (what she DIDN'T save), we have this...
12Y = 3(X - Y)

Now, we can simplify:
12Y = 3X - 3Y
15Y = 3X
5Y = X
Y/X = 1/5

GMAT assassins aren't born, they're made,
Rich

Hi Rich,

Total take-home pay is $1,200/year. My answer: I got 10/100 then reduced to 1/10. Wrong answer! Help! EMPOWERgmat Instructor V Status: GMAT Assassin/Co-Founder Affiliations: EMPOWERgmat Joined: 19 Dec 2014 Posts: 15309 Location: United States (CA) GMAT 1: 800 Q51 V49 GRE 1: Q170 V170 Re: Alice’s take-home pay last year was the same each month, and [#permalink] Show Tags 2 Hi OCDianaOC, The numbers you've chosen to TEST are perfect, but you made a small math mistake: IF...$10 was saved each month and $40 was NOT saved each month, then the total for each month is$50 (not $100). Thus, the take-home pay for the year would be (12)($50) = $600. Total saved for the year = (12)($10) = $120 Total take-home pay for the year =$600
$120/$600 = 1/5

GMAT assassins aren't born, they're made,
Rich
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Alice’s take-home pay last year was the same each month, and  [#permalink]

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Bunuel wrote:
changhiskhan wrote:
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

Thanks,

Let Alice's monthly take-home pay be $$p$$ and her monthly savings be $$s$$. Total savings will be $$12s$$ and we know that this is 3 times the amount she spends in month which is: $$p-s$$. So we have:

$$12s=3(p-s)$$ --> $$s=p\frac{1}{5}$$

Hello Bunuel - founder of numerology hope you are well my solution is quite unusual but is super duper quck As per this sentence " Alice 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'

So total amount she saved was 60 and total amount she didnt save was 20

So now question is "what fraction of her take-home pay did she save each month?"

so i divide 60 by 12 (number of months ) 60/12 = 5

hence $$\frac{1}{5}$$ she saved each month. YAY is my correct approach ?

thanks and have a good week in case Bunuel doesn't reply I will tag you friends too generis niks18 Senior SC Moderator V
Joined: 22 May 2016
Posts: 3574
Alice’s take-home pay last year was the same each month, and  [#permalink]

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dave13 wrote:
changhiskhan wrote:
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

Hello Bunuel - founder of numerology hope you are well my solution is quite unusual but is super duper quck As per this sentence " Alice 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'

So total amount she saved was 60 and total amount she didnt save was 20

So now question is "what fraction of her take-home pay did she save each month?"

so i divide 60 by 12 (number of months ) 60/12 = 5

hence $$\frac{1}{5}$$ she saved each month. YAY is my correct approach ?

thanks and have a good week in case Bunuel doesn't reply I will tag you friends too generis niks18 Hi dave13 , whether your approach is correct depends on whether
you did some mental math and did not write down the steps.

How did you calculate $$\frac{1}{5}$$?
How did you go from 5 to $$\frac{1}{5}$$?
(You have everything in place. You picked good numbers.
How and whether you manipulated those numbers, I cannot discern.)
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Manager  S
Joined: 29 Sep 2017
Posts: 114
Location: United States
Re: Alice’s take-home pay last year was the same each month, and  [#permalink]

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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

Notice that the 60 is a good number to change fractions to whole numbers; hence, each choice becomes:
A. 30
B. 20
C. 15
D. 12
E. 10

Simply plug and play: if her take home savings were $30, then she did not save$30. 12(30) = 360. Divide this by amount not saved ($30); hence, 12. We need this to be 3x, not 12x. Plugging in rest of numbers shows that D (12) fits. 12 (amount saved) * 12 (months in a year) = 144 (amount saved in year) 48 (amount not saved) * 3 (per stem) = 144. Both match; hence, D. _________________ If this helped, please give kudos! VP  D Joined: 09 Mar 2016 Posts: 1230 Re: Alice’s take-home pay last year was the same each month, and [#permalink] Show Tags generis wrote: dave13 wrote: changhiskhan wrote: 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 Hello Bunuel - founder of numerology hope you are well my solution is quite unusual but is super duper quck As per this sentence " Alice 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' So total amount she saved was 60 and total amount she didnt save was 20 So now question is "what fraction of her take-home pay did she save each month?" so i divide 60 by 12 (number of months ) 60/12 = 5 hence $$\frac{1}{5}$$ she saved each month. YAY is my correct approach ? thanks and have a good week in case Bunuel doesn't reply I will tag you friends too generis niks18 Hi dave13 , whether your approach is correct depends on whether you did some mental math and did not write down the steps. How did you calculate $$\frac{1}{5}$$? How did you go from 5 to $$\frac{1}{5}$$? (You have everything in place. You picked good numbers. How and whether you manipulated those numbers, I cannot discern.) Greetings generis i simply took number 60 because it is easy to work with (it can be divided by 2, 3, 4, 5, 6, 10 and 12) very practical number so since her total amount saved for the whole year is 60 and we need to know how much she saved monthly i divided 60 by 12 = 5 i added 1 in numeror to match it to answer choice i decorated my answer by adding a personal touch optionally $$\frac{12}{60}$$= $$\frac{1}{5}$$ have a lovely jovely day Senior SC Moderator V Joined: 22 May 2016 Posts: 3574 Alice’s take-home pay last year was the same each month, and [#permalink] Show Tags 1 1 1 changhiskhan wrote: 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 dave13 wrote: generis wrote: dave13 wrote: Hello Bunuel - founder of numerology hope you are well my solution is quite unusual but is super duper quck As per this sentence " Alice 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' So total amount she saved was 60 and total amount she didnt save was 20 So now question is "what fraction of her take-home pay did she save each month?" so i divide 60 by 12 (number of months ) 60/12 = 5 hence $$\frac{1}{5}$$ she saved each month. YAY is my correct approach ? thanks and have a good week in case Bunuel doesn't reply I will tag you friends too generis niks18 Hi dave13 , whether your approach is correct depends on whether you did some mental math and did not write down the steps. How did you calculate $$\frac{1}{5}$$? How did you go from 5 to $$\frac{1}{5}$$? (You have everything in place. You picked good numbers. How and whether you manipulated those numbers, I cannot discern.) Greetings generis i simply took number 60 because it is easy to work with (it can be divided by 2, 3, 4, 5, 6, 10 and 12) very practical number so since her total amount saved for the whole year is 60 and we need to know how much she saved monthly i divided 60 by 12 = 5 i added 1 in numeror to match it to answer choice i decorated my answer by adding a personal touch optionally $$\frac{12}{60}$$= $$\frac{1}{5}$$ have a lovely jovely day Your personal touch? OMG. What, did you try some numerology, too?   I am SO hoping (and so NOT hoping) he sees that one. You are ABSOLUTELY correct about the number 60 (and 120, BTW). Now, let's finish this . . .You wrote: Quote: we need to know how much she saved monthly i divided 60 by 12 = 5 True. Good instincts. We also need to know how much she EARNED monthly Quote: So total amount she saved was 60 andtotal [MONTHLY] amount she didnt save was 20 Saved$60 in one YEAR
$60 is three times$20, which is the amount she did NOT save EACH MONTH
Per month SAVED?
Per month NOT SAVED?

This step is correct: $$$\frac{60}{12}$$ =$5 per month SAVED  Quote:
what fraction of her take-home pay did she save each month?

1) Find take home pay per month = (Dollars saved each month) + (Dollars NOT saved each month)

Take home pay per month (with the awesome numbers you picked) is:
$5 (saved) +$20 (not saved) = $25 per month 2) Now, what fraction of that monthly pay did she save? • saved each month:$5
• earned each month: $25 $$\frac{SavedAmt}{MonthlyAmt}=\frac{Part}{Whole}=\frac{5}{25}=\frac{1}{5}$$ You were very close! It is a good thing to look for simple shortcuts. Just make sure you read the question really carefully. (This question's language is not easy. I would bet that if you had read carefully, you would have found the answer.) You chose good numbers. Does this make sense? Thanks for making me laugh. _________________ SC Butler has resumed! Get two SC questions to practice, whose links you can find by date, here. Instructions for living a life. Pay attention. Be astonished. Tell about it. -- Mary Oliver Intern  B Joined: 17 Oct 2016 Posts: 2 Re: Alice’s take-home pay last year was the same each month, and [#permalink] Show Tags 1 I tried to solve this testing the answers: I assumed her take home was$100

Testing 1/5th
Saving/month is 20; Saving/year is 240 (20*12)
Money not saved/Month is 80
80 is 1/3rd of 240
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Posts: 12
Re: Alice’s take-home pay last year was the same each month, and  [#permalink]

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In this problem we know that every payment across the year is the same, lets call those payments P.
Given this we know that we received at the end of the year 12P (p+p+p+p+p+....) 12 payments

Then we have 12P.

Ok, we also know that we save the same amount of money each month, lets call this S.
Given this we know that we save at the end of the year 12S (s+s+s+s+s+....) 12 "savings"

Then we have 12S.

Also the problem tell us that "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"

Before this we know that if she receives P every month, and she saves S, then the portion that she didn't saved was P-S.
So, lets translate this:

The total amount of money that she had saved the end of the year (12S) was (=) 3 times the amount of that portion of her monthly take-home pay that she did NOT save (3*(P-S))

Translation:

---> 12S=3(P-S)
so...
---> 4S = P-S
---> 5S = P
---> S/P = 1/5 (Answer)

S/P is the fraction of her monthly payment that she saved Intern  B
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Posts: 3
Re: Alice’s take-home pay last year was the same each month, and  [#permalink]

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Let the total amount of money saved in a year = 900 (Money saved in a month = 900/12 =75)
and total amount of money spent in a year be = 300
Therefore, total amount of money saved in a year = 1200(Money saved in a month = 1200/12 = 100)

Therefore fraction of money saved in a month = 75/100 = 1/5
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Re: Alice’s take-home pay last year was the same each month, and  [#permalink]

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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.

Amount Saved per month= 1/X
Not Saved per month = (1 - 1/X)

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.

12* 1/X = 3*(1-1/X)
12*1/X = 3 * [(X-1)/X] /*X
12=3(X-1)
4=X-1
5=X

Amount Saved per month= 1/X =1/5
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Alice’s take-home pay last year was the same each month, and  [#permalink]

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Quote:
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?

Quote:
Let monthly take home be 100 and the fraction she saves be x.

May I know how your genius mind came up with figure of 100 (was it because of highlighted text?,
still we choose 100 as base figure in %tage problems not in fractions)

Quote:
12*100*x = 3*100*(1-x)

Should not above expression be:

12*x = 3*(100-x)

Bunuel chetan2u we choose p and s as separate variables in the first post since there is no co-relation
between two as evident from first sentence of the problem. Am I correct in my understanding?
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GMAT 1: 670 Q46 V36 GMAT 2: 690 Q47 V38 Re: Alice’s take-home pay last year was the same each month, and  [#permalink]

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changhiskhan wrote:
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

Let Monthly Saving = S
Monthly Spending = U

Need = S/(S + U) = ?

Transform the Word Problem into an equation

12S = 3U => S = U/4

S/(S + U) = U/4/(U/4 + U) = 1/5 => D
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Re: Alice’s take-home pay last year was the same each month, and  [#permalink]

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Hello guys , could anyone verify if my approach is correct or I got extremely lucky?

Let's say k is the take-home pay and x/k the fraction she saves each month.

12*(k/x)=3 [ (k-x)/k ]
after calculations of the above we get 5x=k then x/5x=1/5
Intern  B
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Re: Alice’s take-home pay last year was the same each month, and  [#permalink]

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I would say this question is best solved with trial and error and by assuming a few numbers since the question does not give us any explicit values.

Let's assume her take home salary to be $100 Case 1: She saves$10
IS $10 x 12 months = 3($90) Note $90 is the amount that she did not save i.e Is 120 = 270? NO Case 2: She saves$20
IS $20 x 12 months = 3($80)?
i.e IS 240 = 240? YES

Therefore she saved 20% of her take-home money...option D
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Re: Alice’s take-home pay last year was the same each month, and  [#permalink]

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changhiskhan wrote:
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

Let the amount saved each month = $1. Total saved for the entire year = 12*1 =$12.
Since the total saved for the entire year -- $12 -- is 3 times the amount not saved each month, the amount not saved each month $$= \frac{12}{3} = 4$$. Thus, the total monthly pay = (amount saved each month) + (amount not saved each month) = 1+4 =$5.

What fraction of her take-home pay did she save each month?
$$\frac{amount-saved-each-month}{total-monthly-pay} = \frac{1}{5}$$

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Available for tutoring in NYC and long-distance. Re: Alice’s take-home pay last year was the same each month, and   [#permalink] 19 Oct 2019, 03:45

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