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please explain gmat prep question

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by yvonne12 » Mon Apr 02, 2007 11:01 am
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 the money that she had saved at the end of the year was 3 times the amount of that proportion of her monthly take home pay that she did not save. if all the money that she saved last year was her take home pay, what fraction of her take home pay did she save each month?
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by 800GMAT » Mon Apr 02, 2007 3:10 pm
Let x= monthly pay
and 1/y = Fraction that she saves each month

Monthly savings = x/y
proportion of her monthly take home pay that she does not save = x - x/y


12 * x/y = 3(x - x/y)
12x/y = 3x - 3x/y
15x/y = 3x
y=5

Hence 1/5
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thanks

by yvonne12 » Tue Apr 03, 2007 9:35 am
thank you,

12 * x/y (this is 12 months times money saved) right?
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by 800GMAT » Tue Apr 03, 2007 2:26 pm
Yes..right... the annual savings :D
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by Cybermusings » Wed Apr 04, 2007 3:48 am
Folks this question has been discussed in a real old thread!
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