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Joan's take home pay last year was the same each month, and she saved

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Joan's take home pay last year was the same each month, and she saved  [#permalink]

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New post 14 Jan 2018, 05:54
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63% (02:12) correct 37% (02:39) wrong based on 67 sessions

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Joan'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 4 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 percent of her take-home pay did she save each month?

A. 8.25%
B. 20%
C. 25%
D. 36%
E. 80%

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Re: Joan's take home pay last year was the same each month, and she saved  [#permalink]

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New post 14 Jan 2018, 05:59
Bunuel wrote:
Joan'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 4 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 percent of her take-home pay did she save each month?

A. 8.25%
B. 20%
C. 25%
D. 36%
E. 80%


Similar question from GMAT Prep: https://gmatclub.com/forum/alice-s-take ... 91893.html
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Re: Joan's take home pay last year was the same each month, and she saved  [#permalink]

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New post 21 Jan 2018, 11:28
Is it C?

say her take home money is T and she saves S amount of money
so after an year 12S = 4(T-S) -----> 12S = 4T - 4S
we get 16S= 4T or 4S = T
that means S is = 1/4T or 25%
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Re: Joan's take home pay last year was the same each month, and she saved  [#permalink]

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New post 21 Jan 2018, 11:58
Bunuel wrote:
Joan'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 4 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 percent of her take-home pay did she save each month?

A. 8.25%
B. 20%
C. 25%
D. 36%
E. 80%


In addition to the Precise methodology shown above, we'll show a method using the answers.
This is an Alternative approach and is especially helpful if you tend to get confused in long word problems.

Let's start with the median - C.
If Joan saved 25% of her take-home pay each month, then we can say she saved x out of 4x.
Then the 'portion she didn't save' is 4x - x = 3x.
Over 12 months she would have saved x*12 = 12x.
Since 12x/3x = 4, we have our answer!

Had (C) been wrong, we would have tried (B) or (D), depending on whether the value was too small or too large.
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Re: Joan's take home pay last year was the same each month, and she saved   [#permalink] 21 Jan 2018, 11:58
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