Question

A person spends 1/5 of his salary on rent, 3/7 on food, 1/3 on other expenses and saves the rest. If she earns $21,000 per month, how much does she save per year?

Answer 1

Answer:

$9600 saving / year

Step-by-step explanation:

1/5 of $21000 = 21000 / 5 = $4200 / month on rent

3/7 of $21000 = (21000 / 7) x 3 = $9000 / month on food (shocking right :) food is expensive)

1/3 of $21000 = 21000 / 3 = $7000 on other expenses / month

total savings/month = salary/month - rent/month - food/month - other expenses/month

total savings/month = 21000 - 4200 - 9000 - 7000

total savings/month = $800

BUT the question asks for savings per year. therefore, we must multiply the savings per month by total months per year (12)

800 x 12 = $9600

the person's total savings per year, with a salary of $21000 per month, is equal to $9600 per year