It is currently 21 Oct 2017, 03:57

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

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

This year Henry will save a certain amount of his income,

  post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
Senior Manager
Senior Manager
avatar
Joined: 14 Jul 2006
Posts: 281

Kudos [?]: 3 [0], given: 0

This year Henry will save a certain amount of his income, [#permalink]

Show Tags

New post 23 Aug 2006, 01:51
1
This post was
BOOKMARKED
This topic is locked. If you want to discuss this question please re-post it in the respective forum.

This year Henry will save a certain amount of his income, and he will spend the rest. Next year Henry will have no income, but for each dollar that he saves this year, he will have 1 + r dollars available to spend. In terms of r, what fraction of his income should Henry save this year so that next year the amount he was available to spend will be equal to half the amount that he spends this year?

A. 1/(r+2)
B. 1/(2r+2)
C. 1/(3r+2)
D. 1/(r+3)
E. 1/(2r+3)

Kudos [?]: 3 [0], given: 0

Director
Director
avatar
Joined: 13 Nov 2003
Posts: 788

Kudos [?]: 61 [0], given: 0

Location: BULGARIA
 [#permalink]

Show Tags

New post 23 Aug 2006, 04:09
Hallo Apolo,
It=EXt+St
EXn=St*(1+r)

Sn=? if EXn=(EXt/2)
WHERE
t-stands for this year
n-next year
EX -expended
S-saved
I-income
Substitute and get E

Kudos [?]: 61 [0], given: 0

Manager
Manager
avatar
Joined: 22 May 2006
Posts: 71

Kudos [?]: [0], given: 0

 [#permalink]

Show Tags

New post 23 Aug 2006, 04:23
the answer is E
let us assume he is having x dollars this year,
he spends y dollars, and x-y dollars remains with him
now we hav to calculate (x-y)/x in terms of r
for that we have an equation:
(x-y)(1+r)=y/2
=>x-y=y/[2(1+r)]-----------(eq 1)
x-y+y=y/[2(1+r)]+y=>x=[y(3+2r)]/[2(1+r)]---------(eq 2)
eq 1/eq 2 gives us the answer and its 1/(3+2r)

Kudos [?]: [0], given: 0

GMAT Club Legend
GMAT Club Legend
User avatar
Joined: 09 Sep 2013
Posts: 16610

Kudos [?]: 273 [0], given: 0

Premium Member
Re: This year Henry will save a certain amount of his income, [#permalink]

Show Tags

New post 14 Oct 2017, 05:21
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 Books | GMAT Club Tests | Best Prices on GMAT Courses | GMAT Mobile App | Math Resources | Verbal Resources

Kudos [?]: 273 [0], given: 0

Re: This year Henry will save a certain amount of his income,   [#permalink] 14 Oct 2017, 05:21
Display posts from previous: Sort by

This year Henry will save a certain amount of his income,

  post reply Question banks Downloads My Bookmarks Reviews Important topics  


GMAT Club MBA Forum Home| About| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

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

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.