changhiskhan wrote:
Alices 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 money that she had saved at the end of the year was 3 times the amount of that portion of her monthly take-home pay that she did NOT save. If all the money that she saved last year was from her take-home pay, what fraction of her take-home pay did she save each month?
A. 1/2
B. 1/3
C. 1/4
D. 1/5
E. 1/6
A. 1/2
B. 1/3
C. 1/4
D. 1/5
E. 1/6
let p=take-home pay
s=fraction of take-home pay saved
12sp=3(1-s)p
s=1/5
D
