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by adthedaddy » Sun Aug 26, 2012 10:04 am
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 has 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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Source: — Problem Solving |

by neelgandham » Sun Aug 26, 2012 11:44 am
Anil Gandham
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by adthedaddy » Sun Aug 26, 2012 1:21 pm
Thanks Anil, Mitch's solution is very simple and easy to understand also :-)
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by Brent@GMATPrepNow » Sun Aug 26, 2012 2:27 pm
adthedaddy 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 has 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)
Here's an algebraic solution:
Image

Answer = E

Cheers,
Brent
Brent Hanneson - Creator of GMATPrepNow.com
Image
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by Brent@GMATPrepNow » Sun Aug 26, 2012 2:28 pm
adthedaddy 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 has 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)
Here's a "non-algebraic" solution:
Image
Cheers,
Brent
Brent Hanneson - Creator of GMATPrepNow.com
Image
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