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.

It appears that you are browsing the GMAT Club forum unregistered!

Signing up is free, quick, and confidential.
Join other 500,000 members and get the full benefits of GMAT Club

Registration gives you:

Tests

Take 11 tests and quizzes from GMAT Club and leading GMAT prep companies such as Manhattan GMAT,
Knewton, and others. All are free for GMAT Club members.

Applicant Stats

View detailed applicant stats such as GPA, GMAT score, work experience, location, application
status, and more

Books/Downloads

Download thousands of study notes,
question collections, GMAT Club’s
Grammar and Math books.
All are free!

Thank you for using the timer!
We noticed you are actually not timing your practice. Click the START button first next time you use the timer.
There are many benefits to timing your practice, including:

Alice’s take-home pay last year was the same each month, and [#permalink]

Show Tags

26 Mar 2010, 17:21

8

This post received KUDOS

56

This post was BOOKMARKED

00:00

A

B

C

D

E

Difficulty:

65% (hard)

Question Stats:

59% (02:24) correct
41% (01:34) wrong based on 1316 sessions

HideShow timer Statistics

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?

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:

Re: please help me set up the equation for this problem [#permalink]

Show Tags

27 Mar 2010, 04:17

1

This post received KUDOS

3

This post was BOOKMARKED

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,

x - monthly take home y - monthly save x-y - monthly expenditure given, 12y = 3(x-y) => x = 5y to calculate, y/x = 1/5 hence D

I know i am terribly missing something, please elaborate

OA soon

Let's call the fraction of pay PER MONTH that Alice saved S, and the fraction of pay that she did not save N. Therefore: (% of pay saved) + (% of pay spent) = 100% S + N = 1

The second sentence in the question states that Alice's total yearly savings is equal to three times the amount she would NOT save (a.k.a. the spending) in one month. Therefore: (yearly savings) = (3 * monthly spending) (12 * monthly saving) = (3 * monthly spending) 12S = 3N 4S = N

Now plug this into the top equation to find a value for S: 4S = N S + N = 1 S + (4S) = 1 5S = 1 S = 1/5

Therefore, the answer is D.

I'd be willing to bet that you didn't read carefully enough and you thought the second sentence in the question said, " The total amount of money at the end of the year that she had saved was 3 times the portion that she had spent." This is what I thought during my first read-through -- and I spent about 15 seconds working the problem incorrectly!

I'd be willing to bet that you didn't read carefully enough and you thought the second sentence in the question said, " The total amount of money at the end of the year that she had saved was 3 times the portion that she had spent." This is what I thought during my first read-through -- and I spent about 15 seconds working the problem incorrectly!

Damn, i got this wrong! you are absolutely right.! I got a completely diffrent fraction cos of my carelessness!

Re: Alice’s take-home pay last year was the same each month, and [#permalink]

Show Tags

07 Apr 2014, 11:57

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.
_________________

Re: Alice’s take-home pay last year was the same each month, and [#permalink]

Show Tags

03 Jul 2014, 18:36

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

I had a different approach to this question and I still don't understand why it doesn't work this way. Because the way people on this thread used, didn't come to my mind at all.

So let x be the amount she earns each month. Then she earned total of 12x in a year.

so I know that from this amount 3x was spent and 9x was saved.

so 9x/12=3x/4 was her monthly save.

(3x/4)/x= 3/4

and there isn't even an answer like that. I must be getting something completely wrong but I can't seem to understand where exactly i'm going wrong.

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

I had a different approach to this question and I still don't understand why it doesn't work this way. Because the way people on this thread used, didn't come to my mind at all.

So let x be the amount she earns each month. Then she earned total of 12x in a year.

so I know that from this amount 3x was spent and 9x was saved.

so 9x/12=3x/4 was her monthly save.

(3x/4)/x= 3/4

and there isn't even an answer like that. I must be getting something completely wrong but I can't seem to understand where exactly i'm going wrong.

The total amount of money that she saved in a year was 3 times the amount of the money she spent per month.
_________________

Re: Alice’s take-home pay last year was the same each month, and [#permalink]

Show Tags

04 Jul 2014, 03:37

bytatia 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

I had a different approach to this question and I still don't understand why it doesn't work this way. Because the way people on this thread used, didn't come to my mind at all.

So let x be the amount she earns each month. Then she earned total of 12x in a year.

so I know that from this amount 3x was spent and 9x was saved.

so 9x/12=3x/4 was her monthly save.

(3x/4)/x= 3/4

and there isn't even an answer like that. I must be getting something completely wrong but I can't seem to understand where exactly i'm going wrong.

The problem does not state that 1/4 th of the amount earned is spent OR 3/4 th of the amount earned in saved.

We have to take another variable to compute the savings amount & draw relation between Total saved & Not Saved

As always, Bunuel's method is the best to get along _________________

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 saved at the end of the year was 3 times the amount of that portion of the 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

Please explain the same. Answer is D 1/5

Here lies the explanation -

Suppose fraction of her take home pay she did save each month \(= \frac{x}{y}\) then fraction she did NOT save each month will be \(1- \frac{x}{y} = \frac{(y-x)}{y}\)

Now we are given that whatever she saved in last year (in 12 months) =\(\frac{12*x}{Y}\) = 3 \(\frac{(y-x)}{y}\) => 12 x = 3 (y-x) => 15 x = 3 y =>\(\frac{x}{y}= \frac{3}{15} = \frac{1}{5} = ANS D\)

Re: Alice’s take-home pay last year was the same each month, and [#permalink]

Show Tags

02 Nov 2014, 13:00

Hi GMAT club members, I tried to solve this problem as follows. Asume her monthly take home pay is x, and she saves 1/2x. Then the portion she did not save is 1/2x. Setting up the equation: 1/2x x 12 = 3(1/2x) 6x = 3/2x Then I get a ratio of 1/4.

Could someone please explain why my approach is wrong?

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?

Hi GMAT club members, I tried to solve this problem as follows. Asume her monthly take home pay is x, and she saves 1/2x. Then the portion she did not save is 1/2x. Setting up the equation: 1/2x x 12 = 3(1/2x) 6x = 3/2x Then I get a ratio of 1/4.

Could someone please explain why my approach is wrong?

Thank you

Hi,

Notice that 6x does NOT equal to 3/2*x, so 6x = 3/2*x is not correct.

You cannot arbitrarily assume here that she saves half of her take home pay. The fraction of the savings is fixed so 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.
_________________

There’s something in Pacific North West that you cannot find anywhere else. The atmosphere and scenic nature are next to none, with mountains on one side and ocean on...

This month I got selected by Stanford GSB to be included in “Best & Brightest, Class of 2017” by Poets & Quants. Besides feeling honored for being part of...

Joe Navarro is an ex FBI agent who was a founding member of the FBI’s Behavioural Analysis Program. He was a body language expert who he used his ability to successfully...