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26 Nov 2023, 09:59
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EhabT
This year Zack will save certain amount of his income, and he will spend the rest. Next year Zack will have no income, but for each dollar that he saves this year, he will have (1 + r) dollar available to spend. In terms of r, what fraction of his income should Zack save this year so that next year the amount available for his spending will be equal to half the amount that he spends this year? A) 1/(r+2) B) 1/(2r+2) C) 1/(r+3) D) 1/(2r+3) E) None of these
Option C?EhabT
This year Zack will save certain amount of his income, and he will spend the rest. Next year Zack will have no income, but for each dollar that he saves this year, he will have (1 + r) dollar available to spend. In terms of r, what fraction of his income should Zack save this year so that next year the amount available for his spending will be equal to half the amount that he spends this year? A) 1/(r+2) B) 1/(2r+2) C) 1/(r+3) D) 1/(2r+3) E) None of these
Savings = x, Spend = 1-x: x*(1+r)= (1-x)/2
solving this, x= 1/(r+3)
option C
26 Nov 2023, 10:08
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Yoga_Venkatesh
Savings = x, Spend = 1-x: x*(1+r)= (1-x)/2 solving this, x= 1/(r+3) option C
Correct ans is actually D but the explanation provided was too hard so I decided to share here for some insights 26 Nov 2023, 10:09
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Can you share question link?
