BREAKING: Target Test Prep releases Brand New 2026 On Demand GMAT prep course

Redeem

Alice take home pay

This topic has expert replies
Post new topic Post Reply
Previous Topic Next Topic
Senior | Next Rank: 100 Posts
Posts: 49
Joined: Sun May 08, 2011 4:33 pm

Alice take home pay

by Ashetty » Sun Sep 04, 2011 7:41 pm
Alice take home pay last yr was same each month & she saved same fraction of her take home pay each month. the total amt money she saved at end of yr was 3 times the amt portion of her monthly take home pay that she didn't save.If all the money that she saved last yr was from her take home pay, what fraction of her take home pay did she save each month??

Thanks!!
Top
Source: — Problem Solving |

GMAT/MBA Expert

User avatar
GMAT Instructor
Posts: 3835
Joined: Fri Apr 02, 2010 10:00 pm
Location: Milpitas, CA
Thanked: 1854 times
Followed by:523 members
GMAT Score:770

by Anurag@Gurome » Sun Sep 04, 2011 7:48 pm
Ashetty wrote:Alice take home pay last yr was same each month & she saved same fraction of her take home pay each month. the total amt money she saved at end of yr was 3 times the amt portion of her monthly take home pay that she didn't save.If all the money that she saved last yr was from her take home pay, what fraction of her take home pay did she save each month??

Thanks!!
Let Alice's total take home pay per month = P
Alice's saving per month = S, which means her savings for the whole year = 12S
Amount not saved by Alice per month = P - S
It is given that "the total amt money she saved at end of yr was 3 times the amt portion of her monthly take home pay that she didn't save", which means
12S = 3(P - S) or 15S = 3P or S = P/5

Therefore, Alice saved [spoiler]1/5th[/spoiler] of her take home pay every month.
Anurag Mairal, Ph.D., MBA
GMAT Expert, Admissions and Career Guidance
Gurome, Inc.
1-800-566-4043 (USA)

Join Our Facebook Groups
GMAT with Gurome
https://www.facebook.com/groups/272466352793633/
Admissions with Gurome
https://www.facebook.com/groups/461459690536574/
Career Advising with Gurome
https://www.facebook.com/groups/360435787349781/
Top
User avatar
GMAT Instructor
Posts: 15539
Joined: Tue May 25, 2010 12:04 pm
Location: New York, NY
Thanked: 13060 times
Followed by:1906 members
GMAT Score:790

by GMATGuruNY » Mon Sep 05, 2011 2:58 pm
I posted a solution here:

https://www.beatthegmat.com/alice-s-take ... 72398.html
Private tutor exclusively for the GMAT and GRE, with over 20 years of experience.
Followed here and elsewhere by over 1900 test-takers.
I have worked with students based in the US, Australia, Taiwan, China, Tajikistan, Kuwait, Saudi Arabia -- a long list of countries.
My students have been admitted to HBS, CBS, Tuck, Yale, Stern, Fuqua -- a long list of top programs.

As a tutor, I don't simply teach you how I would approach problems.
I unlock the best way for YOU to solve problems.

For more information, please email me (Mitch Hunt) at [email protected].
Student Review #1
Student Review #2
Student Review #3
Top
Post new topic Post Reply
• Page 1 of 1