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by gmatnmein2010 » Mon Feb 15, 2010 8:43 pm
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)
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by akahuja143 » Mon Feb 15, 2010 8:53 pm
I would go with E
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by shashank.ism » Mon Feb 15, 2010 9:12 pm
gmatnmein2010 wrote: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)
Ans is E . Already discussed very well in post : https://www.beatthegmat.com/quant-help-t13626.html
Please check the out solution on that post.
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by vijay_venky » Mon Feb 15, 2010 9:56 pm
Henry's Income this year =H let us say

Saves S, so spends H-S

Now he will have S+Sr dollars to spend in the next year.

1/2(H-S)=S+S*r

H= 3S+2S*r
H=S(3+2*r)

S=H*1/(3+2*r)
So E
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by thephoenix » Tue Feb 16, 2010 3:46 am
Let I = income earned,
Sa = amt saved,
Sp1 = amt avail. to spend this year
and Sp2 = amt avail. to spend next year.

Need to find Sa/I such that Sp2 = Sp1/2.

I = Sa + Sp1 -> ;

Amt saved this year * (1+r) = amount avail to spend next year, so Sa(1+r) = Sp2. Given Sp2 = Sp1/2, Sp1/2 = Sa(1+r) or Sp1 = 2*Sa*(1+r) -> (ii)

Combining (i) and (ii), I = Sa + 2*Sa*(1+r) or I = Sa*(1+2+2r) so Sa/I = 1/(3+2r).
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by komal » Tue Feb 16, 2010 8:24 am
gmatnmein2010 wrote: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)
Let total income = x
Let saved = y
=> spent = x-y

Total dollars available that he can spend next year = y(1+r)

Given y(1+r) = (x-y)/2
=> y = x/(2r+3)

Fraction (y/x) = 1/(2r+3)

Hence E
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