Last visit was: 26 Apr 2024, 17:37 It is currently 26 Apr 2024, 17:37

Close
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
Your Progress

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
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Close
Request Expert Reply
Confirm Cancel
SORT BY:
Date
Director
Director
Joined: 17 Dec 2012
Posts: 589
Own Kudos [?]: 1519 [1]
Given Kudos: 20
Location: India
Send PM
GMAT Club Legend
GMAT Club Legend
Joined: 03 Oct 2013
Affiliations: CrackVerbal
Posts: 4946
Own Kudos [?]: 7629 [1]
Given Kudos: 215
Location: India
Send PM
Manager
Manager
Joined: 19 Dec 2020
Posts: 161
Own Kudos [?]: 39 [0]
Given Kudos: 316
Send PM
Math Expert
Joined: 02 Sep 2009
Posts: 92948
Own Kudos [?]: 619245 [0]
Given Kudos: 81609
Send PM
Re: Alices take-home pay last year was the same each month, and she saved [#permalink]
Expert Reply
ueh55406 wrote:
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?


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:

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

Answer: D.



Hi Bunuel , just a little tweak. I had the same equation, except:

if 12s is the saving for the entire year, then P-12s is the expenditure the entire year, so my equation looked like this:

12s= 3(p-12s). why are we taking the saving/month on the RHS, rather than the saving that entire year?

thanks, in advance


p is Alice's monthly take-home pay and s is her monthly savings. We are told that the total amount of money that she saved in a year (12s) was 3 times the amount of the money she spent per month (3*(p-s)).
Intern
Intern
Joined: 20 Oct 2020
Posts: 22
Own Kudos [?]: 51 [0]
Given Kudos: 1203
Location: Mexico
GMAT 1: 690 Q48 V35
GPA: 3.8
Send PM
Re: Alices take-home pay last year was the same each month, and she saved [#permalink]
I ve got a super easy answer.

Monthly savings= s
Monthly expenses(part that she did not save)= e
Total Monthly pay= e + s


Total amount of money that she saved at the end of the year (12s) is (=) 3 times the amount of that MONTHLY portion that she did not save (e)
What fraction of the total pay did she save each month? So quesiton is s/(e+s)

So 12s=3e or 4s=e
Then s/(e+s) = s/(4s+s) = s/5s = 1/5

Another way to look at it.
The ratio is the following accoring to equation 12s=3e
s/e = 1/4

s:e:Total
1:4:5

s/total is 1/5
User avatar
Non-Human User
Joined: 09 Sep 2013
Posts: 32689
Own Kudos [?]: 822 [0]
Given Kudos: 0
Send PM
Re: Alices take-home pay last year was the same each month, and she saved [#permalink]
Hello from the GMAT Club BumpBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email.
GMAT Club Bot
Re: Alices take-home pay last year was the same each month, and she saved [#permalink]
   1   2 
Moderators:
Math Expert
92948 posts
Senior Moderator - Masters Forum
3137 posts

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne