Question

Each year rolando saves 8% of his income. This year he saved $3000 and his salary was $2000 less than in the previous year. What was his salary in the previous year? Write and solve an equation.

Answer 1

Answer:
$39500

Explanation:
The first part of this question states that Kyle saves 8% of his salary each year. This year he earned $3000. This can be translated into
3000
=
x
⋅
8
%
, or
3000
=
0.08
x
. First you divide both sides by 0.08, which equals
3000
0.08
=
x
, which gets you $37500.
The second part of the question says Kyle earned $2000 less this year compared to last year. Simply add $2000 onto $37500 to find that Kyle earned $39500 last year.